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Slovakia to start meeting Maastricht inflation criterion next month

The governor of the National Bank of Slovakia (NBS), Ivan Šramko, said Slovakia will start meeting the Maastricht inflation criterion in September 2007.

That means initial estimates that the country could meet this criterion as soon as August will not be met.

The reason for this, however, is not that inflation development in Slovakia is worse, but rather that the calculation base for the reference value has changed.

"Malta, with its very low inflation rate, joined the reference currencies, and when comparing our average harmonised inflation with the reference value, Slovakia did not meet the criterion by a tenth of one percent," Šramko said at a press conference on August 28.

-SITA

Compiled by Zuzana Vilikovská from press reports
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