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Brussels has not confirmed euro security

A report from the EU Statistics Office, Eurostat, has revised Slovakia's general government deficit for 2006, increasing it by 0.3 percentage points, the daily Hospodárske Noviny reported on October 23. The new general government deficit for 2006 is 3.69 percent of the GDP, according to Eurostat.

Slovakia's deficit cannot exceed three percent of the GDP if Slovakia wants to enter the eurozone. However, Eurostat did not include the debts of National Highway Company into the deficit yet.

Slovakia expects a deficit of 2.9 percent this year. But if the deficit of the highway company, which could be around 0.2 percent of GDP, was included in this result, Slovakia would not fulfill the Maastricht criteria. The deficit would stand at 3.1 percent of the GDP.

Slovakia would experience a similar situation as Latvia, which had to abandon its plan to introduce euro because of exceeding the limit by 0.1 percent.


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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