Šramko: Conversion rate can help sustain growth and curb inflation

Ivan Šramko, the governor of Slovakia's central bank, has stated he is happy with the final crown-euro conversion rate, which was set at 30.126 SKK/EUR by European Union finance ministers on July 8.

Ivan Šramko, the governor of Slovakia's central bank, has stated he is happy with the final crown-euro conversion rate, which was set at 30.126 SKK/EUR by European Union finance ministers on July 8.

Šramko said the rate reflects the Slovak economy’s extremely robust development since entering the ERM-2 exchange rate mechanism. It should also help to curb inflationary pressures in the medium term, he said.

"The rate partly takes the most recent history into account and partly creates good conditions for both the country's sustainable economic growth and favourable price developments," Šramko concluded. 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.

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