Slovak Republic: Staff Report for the 2003 Article IV Consultation
Volume/Issue:
Volume 2003
Issue 234
Publication date: August 2003
ISBN: 9781451835427
$20.00
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Topics covered in this book
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Business and Economics , Banks and Banking , Exports and Imports , Inflation , Public Finance , Taxation - General , ISCR , CR , government , deficit , Maastricht deficit criterion , core inflation , reform , short-term debt , broad money , deficit reduction , reform-minded government , Inflation , Consumption taxes , Europe
Summary
Slovakia is now one of the fastest-growing EU accession countries. Despite the upswing, the Slovak economy remains hampered by structural weaknesses and related macroeconomic imbalances. Over the medium term, IMF staff believes that Slovakia should aim for an external current account deficit under 5 percent GDP. However, all agreed that additional measures will be needed to reach the deficit target. The authorities' strategy remains to achieve medium-term fiscal consolidation through expenditure reduction, but they acknowledged that a more explicit expenditure policy was needed.
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