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World Bank: Slovakia's plans to adopt euro in 2009 are realistic

Slovakia should not have problems meeting the Maastricht inflation criterion, and is one of a few countries in the CEE region that should not fear an economic slowdown, reads the World Bank's (WB) regular report on economic development in CEE countries/EU members (EU8+2).

The report was presented by WB economist for Slovakia Anton Marcincin, on May 31 in Bratislava.

Only developments on world oil markets might represent a risk with respect to inflation, he added.

According to Marcincin, it seems that of all the EU8+2 countries that have not yet adopted the euro, only Slovakia has a realistic euro-adoption plan. The other countries have postponed their planned adoption dates.

The WB's report also points out that the countries in the region as a whole have failed to use good economic development to improve their fiscal policies and lower their public finance deficits.

Slovakia aims to keep its budget deficit below 3 percent of GDP, which is the maximum threshold for the successful adoption of the euro.

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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