Slovak Republic: 2009 Article IV Consultation: Staff Report; and Public Information Notice on the Executive Board Discussion

International Monetary Fund

No 2009/221, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2009 Article IV Consultation highlights that following a period of rapid growth, economic activity in the Slovak Republic tumbled in the first half of 2009 as a result of the global crisis. Slovakia’s banks have so far withstood the global crisis relatively well. Executive Directors have encouraged the authorities to formulate and announce a credible medium-term fiscal consolidation strategy, aimed at bringing down the general government deficit to within the Maastricht norm in a timely manner. Directors have also emphasized that external competitiveness will require sustained structural reforms and wage discipline.

Keywords: ISCR; CR; deficit; economy; IMF staff calculation; unit value trade price price index; Slovakia; appendix I. Slovak Republic; Slovak economy; vis nonresident; Inflation; Loans; Global (search for similar items in EconPapers)
Pages: 34
Date: 2009-07-28
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