EC: Slovakia needs more structural reforms and stricter fiscal policy

Slovakia must carry out further structural reforms and introduce stricter fiscal discipline if it wants to adopt the Euro on January 1, 2009, an evaluation of the country's convergence plan published by the European Commission (EC) on January 30 states.

Slovakia must carry out further structural reforms and introduce stricter fiscal discipline if it wants to adopt the Euro on January 1, 2009, an evaluation of the country's convergence plan published by the European Commission (EC) on January 30 states.

Although inflation fell significantly last year, increases are expected due to developments in the prices of foodstuffs and energy, strong economic growth, lower flexibility in the labour market, and the weakening effect of national currency appreciation, said the EC. "In order to meet inflation targets stated in the program, which presupposes that Euro adoption will take place in 2009, and in order to handle possible inflationary pressures, more structural reforms are needed," reads the assessment. "The Government also needs to be ready to introduce stricter fiscal discipline than the plan envisages," adds the document. TASR

Compiled by Zuzana Vilikovská from press reports

The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

Janka, a blogger, during the inauguration of the first flight to Athens with Aegean Airlines at the airport in Bratislava on September 14, 2023.

A Czech rail operator connects Prague and Ukraine, Dominika Cibulková endorses Pellegrini, and Bratislava events.


Píšem or pišám?

"Do ľava," (to the left) I yelled, "Nie, do prava" (no, to the right), I gasped. "Dolšie," I screamed. "Nie, nie, horšie..." My Slovak girlfriend collapsed in laughter. Was it something I said?


Matthew J. Reynolds
Czech biochemist Jan Konvalinka.

Jan Konvalinka was expecting a pandemic before Covid-19 came along.


SkryťClose ad