(VOVworld) - Lawmakers in Athens have passed a bill that will introduce further tax cuts, price hikes and a new privatisation fund.

Greek Prime Minister Alexis Tsipras (R) talks with Finance Minister Euclid Tsakalotos during a debate in Athens on Saturday. (Photo: European Press Photo Agency)

Greece has to save 5.4 billion euros to unlock more bailout funds from its creditors. Greece's parliament on Sunday passed an omnibus reform bill providing for tax hikes, more austerity reforms and a new privatization superfund, which will manage almost all state property. These measures are designed to save an additional 1.8 billion euros, guaranteeing Greece further help from its international creditors. However this new austerity bill is being strongly opposed by the people.