Slovak Republic: Selected Issues

January 14, 2016

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Format: Chicago

Slovak Republic: Selected Issues, (USA: International Monetary Fund, 2016) accessed December 27, 2024

Summary

This Selected Issues paper examines the need of reformation of the Fiscal Responsibility Act (FRA) in the Slovakia. It is suggested that in light of experience gathered so far, FRA modifications should be considered. Clear guidelines regarding a cost-effective cash management strategy should be established. Debt brake level should be kept at the current limits, rather than lowered over time, to avoid unduly eroding fiscal space. Policies should aim to maintain a safe margin below debt thresholds to allow fiscal policy to play a counter-cyclical role in the future during downturns. Adjustment measures should be more gradual and the bias toward spending cuts should be lessened or removed.

Subject: Credit, Credit gaps, Financial institutions, Financial sector policy and analysis, Loans, Macroprudential policy instruments, Money, Public debt

Keywords: CR, Credit, Credit gap, Credit gaps, Design lead, Europe, FRA debt brake, FRA debt threshold, FRA modification, Government, ISCR, Lending, Loans, Macroprudential policy instruments

Publication Details

Pages:

52
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/014
Stock No:

1SVKEA2016002
ISBN:

9781513509310
ISSN:

1934-7685

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