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WB warns against fall out from economic growth

There are strong signs Slovakia’s economic growth will continue, according to the recent 'Doing Business' report from the World Bank. However, the existing economic policies should stay in place and some recent economic measures may have negative effects, the Bank's latest regular economic report presented on September 27 in Bratislava says.

To repeat an 8-9 percent GDP growth is very difficult for any country, and in Slovakia, too, the pace will gradually decrease. However, the Slovak economy is at the highest technological level. As a result, its potential output has also increased, says WB economist for Slovakia Anton Marcincin.

However, continuation of strong growth has one prerequisite.

"If Slovakia continues in the direction adopted a few years ago," the economist specified.

In practice, this means to do the utmost to ensure that the euro is introduced on the planned date of January 1, 2009. Marcincin says that it's not important whether Eurostat increases Slovakia's public finance deficit by several tenths of a percentage point. It is very important to call on the Government and parliament to think twice when it comes to economic policy shifts and to making statements that can influence decision-making vis-á-vis Slovakia adopting the euro. Mancincin highlighted the announced changes in the pension system, and how they can threaten the stability of public finances. TASR

Compiled by Zuzana Vilikovská from press reports
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