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NBS issues another fiscal warning

The central bank has warned the government that unless it takes immediate action to curb the fiscal deficit it will be forced to again raise interest rates to prevent dramatic currency developments.

The National Bank of Slovakia sounded the warning as it corrected its economic outlook for 2002, raising the expected current account deficit from 7.9 to 8.3 per cent of GDP (compared to 8.8 per cent in 2001) and fiscal deficit from 3.6 to 4.5 per cent of GDP. End-year inflation and GDP growth stayed unchanged at 3.5-4.9 per cent and 3.5-3.8 per cent respectively.

Compiled by Tom Nicholson from press reports.
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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