(MENAFN) Portugal's Prime Minister, Pedro Passos Coelho, stated that the government will embark on new measures in order to lower public spending, reported Xinhua News.
Among the announced measures, working hours for public sector workers will rise to 40 a week from 35, while those who extend their retirement age voluntarily to 66 years will see less taxes on their pensions.
Furthermore, by the end of next year, public sector expenditure will be reduced by 10 percent, and the number of public sector workers will go down by 30,000.
The Prime Minister said that by the end of 2015, public spending will be cut by USD6.29 billion.
In recent months, the country, which is under a USD102.27-billion bailout agreement with the troika, has introduced a number of new measures to meet its deficit reduction targets set by international lenders.
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