Slovak Republic: Recent Economic Developments

August 5, 1998

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Slovak Republic: Recent Economic Developments, (USA: International Monetary Fund, 1998) accessed November 23, 2024

Summary

This paper reviews economic developments in the Slovak Republic during 1994–97. In 1996, a large current account deficit emerged as domestic demand surged by more than 20 percent. At the same time, fiscal policy became expansionary, with the fiscal position turning from surplus to deficit. These imbalances persisted into 1997. In an effort to reverse the deterioration in the external accounts, monetary policy was tightened, but its effectiveness in slowing down domestic demand was undermined by a fiscal policy that became even more expansionary.

Subject: Commercial banks, Expenditure, Exports, Financial institutions, Foreign exchange, Imports, International trade, Real exchange rates

Keywords: Banking sector, Broad money, Commercial banks, CR, Current account, Exports, Global, Imports, ISCR, Monetary policy, Nominal GDP, Personal income, Real exchange rates, Trade balance, Trade deficit, U.S. dollar, Western Europe

Publication Details

Pages:

98
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 1998/060
Stock No:

1SVKEA0011998
ISBN:

9781451835373
ISSN:

1934-7685

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