Slovak Koruna Looking Good

September 2003
Emerging Europe Financial Alert;9/15/2003, Vol. 2 Issue 17, p3
Industry Profile
Industry Overview
This article focuses on Slovakia's macroeconomic fundamentals exerting strong appreciation pressures on the Slovakian currency, koruna. The currency has weathered central bank intervention, contagion and deteriorating investor confidence elsewhere in the CEE region, to break through resistance around the SKK41.70-41.90/EUR area. Prime Minister of Slovakia, Mikulas Dzurinda, has accepted ANO leader Pavol Rusko's nomination as economy minister, replacing outgoing Robert Nemcsics. Despite the uncertain political background, progress with reform has been impressive. The government has already passed a 19% flat tax rate, agreeing on a planned overhaul of the current pay-as-you-go pension system.


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