Greece’s parliament has passed a new austerity bill that seeks to cut 30-thousand civil servants from government payrolls, freeze wage rates and reduce pensions.

With the belt-tightening measures adopted Thursday, local time, Greece is aiming to lower its fiscal deficit to account for six percent of the Gross Domestic Product (GDP) next year. Currently, fiscal deficit accounts for more than ten percent of Greece’s GDP.

In protest of such tough measures, protesters continued to hold rallies on Thursday, and one person died among the demonstrations.

The Greek parliament’s move comes as the three international lenders to the debt ridden nation—the International Monetary Fund, European Commission, and European Central Bank—said Greece is likely to get the next eight billion euro tranche out of a 100 billion euro bailout by next month.

It is uncertain whether the new austerity measures will be smoothly implemented in the face of strong public protests.