Ireland facing tough annual budget
DUBLIN: Crisis-hit Ireland, buckling under huge debts, will this week launch its 2011 budget to slash spending and lift taxation, as part of ongoing efforts to secure a huge EU/IMF international rescue package. Irish Finance Minister Brian Lenihan is due on Tuesday to address the Dail, or lower house of parliament, and is expected to unveil savings of about six billion euros.
Tuesday's statement will be the first in a series of budgets to implement a combined fiscal correction of 15 billion euros over the next four years. Lenihan is seeking to slash Ireland's public deficit from about 32 percent of GDP this year --a record high for the eurozone --to below the target deficit of 3.0 percent by 2015. The former Celtic Tiger nation wants to win a huge rescue package of up to 85 billion euros from the European Union and the IMF to help fix its devastating debt crisis. -PB News
KABUL: Federal Minister for Interior Senator A. Rehman Malik and his Afghani counterpart Gen. Bismillah Muhammadi speaking to media persons at Ministry of Interior in Kabul, Afghanistan. -Online