Slovak Republic: Recent Economic Developments

International Monetary Fund

No 1998/060, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper reviews economic developments in the Slovak Republic during 1994–97. In 1996, a large current account deficit emerged as domestic demand surged by more than 20 percent. At the same time, fiscal policy became expansionary, with the fiscal position turning from surplus to deficit. These imbalances persisted into 1997. In an effort to reverse the deterioration in the external accounts, monetary policy was tightened, but its effectiveness in slowing down domestic demand was undermined by a fiscal policy that became even more expansionary.

Keywords: ISCR; CR; U.S. dollar; trade balance; banking sector; broad money; monetary policy; nominal GDP; current account; trade deficit; personal income; Real exchange rates; Commercial banks; Imports; Exports; Western Europe; Global (search for similar items in EconPapers)
Pages: 98
Date: 1998-08-05
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=2670 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:1998/060

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().