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Prediction on euro adoption drops

The perceived probability that Slovakia will adopt the euro as of 2009 decreased in September from 77 percent to 70 percent, according to the latest monthly Institute for Economic and Social Issues (INEKO) survey.

"It's the first substantive decrease since September 2006, when INEKO, in co-operation with the Club of Economic Analysts (KEA), began to survey economic analysts,” KEA analyst Peter Goliáš said.

The reason for the decrease, Golias continued, is the news that Eurostat's rules are changing regarding the calculation of Slovakia's public finance deficit, as well as the Government's announced spending measures (such as more spending on highways and health workers), which can cause the public finance situation to deteriorate. The announced measures include, for instance, using public-private partnerships (PPP) for building the motorways and the efforts to weaken the second pension pillar.

Several analysts also pointed to the questionable sustainability of low inflation in Slovakia.

"The problem is also the inappropriate regulation of energy prices, as well as the expected growth of inflation following the fixation of the currency rate," Goliáš added. TASR

Compiled by Zuzana Vilikovská from press reports
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