Public entities to cut spending by 20 percent
First budget in 12 years passed by Parliament
New taxes suspended by Constitutional Council
GDP growth to accelerate to 2.5 percent this year
Proposed budget has $4.8 billion deficit
$1 billion offer to avert tax hike rejected
New taxes and fees: Tobacco, alcohol affected
Fiscal deficit up to near $5 billion
Half the taxpayers earn below $10,000 annually
Public debt: $75 billion!

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