S&P positive on draft budget

STANDARD & POOR'S ratings agency has said that the government-approved draft state budget for 2007 is a positive signal that suggests the Slovak cabinet wants to fulfill its commitment to adopt the euro in 2009 as originally planned.

The agency warned, however, that risks to public finances remain, the Sme daily wrote.

"Should Slovakia fail to achieve the goal of adopting the euro because of problems in public finances, it could lead to pressure to lower the country's ratings," S&P analyst Kai Stukenbrock said.

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