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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
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