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Economy Minister reaffirms strict fiscal policy

The National Economy Minister reaffirmed the government's commitment to following a strict fiscal policy in a statement on Friday, after Moody's put the country's sovereign rating on review for downgrade, but said the policy was not the same as conventional austerity measures that affect families and businesses.

Credit rating agencies do not trust the government to follow a strict fiscal policy in 2010 and 2011, the ministry said. "They don't understand that a disciplined budget does not mean that a government has to give up shaping and pursuing an independent economic policy," it added.