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Exchange rate of Sk39.400 to Euro expected next year

Over 2005, the exchange rate of the Slovak crown may strengthen to Sk39.400 to its reference currency, the euro.

This prediction comes from the planned public administration budget for 2005-2007, which the Slovak cabinet is expected to adopt on October 12, according to the SITA news wire.

The ministry says the expected development of macroeconomic indicators
creates preconditions for the positive development of the Slovak currency.

The Finance Ministry expects that in particular growth in labour productivity
should lead the Slovak crown to gradually strengthen.

The Finance Ministry expects that between 2006 - 2007, the exchange rate will be at Sk39 to the euro. But this beneficial rate depends on the completion of fiscal reform and a stable political situation.

Against the US dollar in 2005, the Slovak crown is predicted to be traded at Sk32.100 on average. For the years 2006 and 2007 the ministry expects an average exchange rate of the crown to the dollar of Sk32.500.

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

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