BUSINESS BRIEFS

Concern over euro timetable

THE GOVERNOR of the National Bank of Slovakia (NBS), Marián Jusko, warned that the financing of the country's pension reforms might deepen the public finance deficit so much that Slovakia would be unable to introduce the euro by 2007 as previously planned.

In order to join the euro, the deficit must fall below three percent of the GDP.

"The cost of installing the euro appears too high," Jusko told Czech press agency CTK.

The planned pension system reform might increase the public finance deficit by one percent.

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