"The European Commission on Friday warned Spain that it risks failing to meet its deficit-reduction targets for the next three years, and as such “invited” the government to introduce further fiscal-adjustment measures. In a report on the budget plans for European Union member countries, Brussels calculated that the government needs to introduce further budget measures worth 35 billion euros over the next three years to meet its obligation under the Stability and Growth Pact (SGP) to bring the shortfall in its finances back within the EU ceiling of 3 percent of GDP. The government has imposed a series of painful tax hikes and spending cuts since May 2010 but these have failed to make sufficient inroads into the persistently high deficit."
hike
HIKES: 1. To increase or raise in amount, especially abruptly: shopkeepers who hiked their prices for the tourist trade.
To hike prices, rates, taxes,
or quantities means to increase them suddenly or by a large amount. (INFORMAL)
It has now been forced to hike its rates
by 5.25 per cent.
inroads
inroads: mermas
inroads
inroads
If one thing makes inroads into another, the first thing starts
affecting or destroying the second.
In Italy, as elsewhere, television has made deep inroads
into cinema.
PHR: V inflects, usu PHR into n
(c) HarperCollins Publishers.
she had to make inroads into her savings
|
No comments:
Post a Comment