This 2004 Article IV Consultation highlights that United Kingdom’s real GDP growth is estimated at about 3 percent in 2004 and is expected to stay stable at about 21⁄2 percent in 2005–06, in line with potential growth. Domestic demand remains the key driver of growth, underpinned by...

Prudent macroeconomic management, strong growth, low inflation, small fiscal deficit, and public debt have helped The Bahamas attain the highest standard of living in the Caribbean. Executive Directors supported the government’s goals of balancing the budget and reducing debt. They encouraged...

This 2004 Article IV Consultation highlights that during the first four years of the Third Five-Year Development Plan (2000/01–2003/04), Iran’s real GDP grew by 5.6 percent on average. The external current account was in surplus, external debt was reduced to a very low level, international...

Kuwait’s 2006 Article IV Consultation reports that its macroeconomic performance has been strong in recent years reflecting sharply higher oil and non-oil activity. Over the medium term, Kuwait’s financial position is projected to remain strong. The large external current account and fiscal...

The Slovak Republic’s 2005 Article IV Consultation reports that sound macroeconomic management and a wide range of fundamental structural reforms are supporting nominal convergence with European Union norms. Real GDP growth accelerated to 6 percent in 2005, driven by an improvement in the...

This 2009 Article IV Consultation highlights that inflation and the current account deficit in Slovenia are expected to moderate. The main downward risks to growth are lower-than-projected growth in Europe, and a credit crunch in the event that foreign financing of domestic banks dries up. In...

This 2005 Article IV Consultation highlights that Malta’s economic growth languished in 2004 for a fourth consecutive year. Slow growth reflected the weakness of, and increasing competition in, Malta’s export markets, as well as domestic factors. The slowdown had begun with shocks to the key...

Malta has advanced toward accession to the European Union (EU), and its progress in international competition and fiscal deficit reduction has contributed to rapid growth and enhanced the economy's resilience to economic shocks. Executive Directors stressed the need for fiscal consolidation,...

There is an urgent need to re-establish a viable external position through a comprehensive, swift, and sustained policy adjustment. The fiscal adjustment will need to rest on both wide-ranging tax revenue measures and substantial expenditure restraint, including a freeze of current expenditure....