Fitting around the election timetable

February 2005
Emerging Europe Monitor: Central Europe & Baltic States;Feb2005, Vol. 12 Issue 2, p8
Country Report
Country Report
The article presents information on the economic developments in Slovakia. The International Monetary Fund (IMF) has suggested that if Slovakia is to achieve its euro adoption timetable, it should set more ambitious budget deficit targets in 2006-07. While the Fund's advice makes sense, the occurrence of parliamentary elections in 2006 is likely to constrain the government's room for manoeuvre in adopting a tighter fiscal policy. When Slovakia's fiscal performance is set against that of its Central European peers, recent IMF criticisms of the government's medium-term fiscal plans could appear somewhat churlish. Yet the authorities would do well to take heed of their economic mentors' advice, particularly with regard to the appropriate fiscal consolidation to be realized in 2006-07, if they are to be confident of achieving their euro adoption ambitions.


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