Slovak Republic; 2003 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Slovak Republic
Slovakia is now one of the fastest-growing EU accession countries. Despite the upswing, the Slovak economy remains hampered by structural weaknesses and related macroeconomic imbalances. Over the medium term, IMF staff believes that Slovakia should aim for an external current account deficit under 5 percent GDP. However, all agreed that additional measures will be needed to reach the deficit target. The authorities' strategy remains to achieve medium-term fiscal consolidation through expenditure reduction, but they acknowledged that a more explicit expenditure policy was needed.
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