Slovak Republic: Staff Report for the 2001 Article IV Consultation
During 1996–98, the measured fiscal deficits have substantially underestimated the extent of the fiscal problem in Slovakia. Amid these signs of vulnerability, the present government has assumed office in October 1998, and embarked on policies to restore macroeconomic balances and lay the basis for sustainable economic growth. The fiscal tightening and developments in the nongovernment sector has led to a sharp fall in domestic demand in 1999, but a strong improvement in net trade performance partly offset their impact on aggregate demand.
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Volume/Issue:
Volume 2001
Issue 126
Publication date: August 2001
ISBN: 9781451835403
$20.00
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Business and Economics , Law , Banks and Banking , Exports and Imports , Economics- Macroeconomics , Public Finance , ISCR , CR , staff appraisal , government , deficit , June , Slovakia , anti-inflationary stance , state guarantee , Slovak authorities , guarantees to enterprise , authorities' strategy , Slovak government , NBS supervisor , exchange rate , Fiscal consolidation , Privatization , Eastern Europe , Western Europe
Summary
During 1996–98, the measured fiscal deficits have substantially underestimated the extent of the fiscal problem in Slovakia. Amid these signs of vulnerability, the present government has assumed office in October 1998, and embarked on policies to restore macroeconomic balances and lay the basis for sustainable economic growth. The fiscal tightening and developments in the nongovernment sector has led to a sharp fall in domestic demand in 1999, but a strong improvement in net trade performance partly offset their impact on aggregate demand.
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