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220928 ||| eng |
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|a 9798400214684
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|a Slovak Republic
|b 2022 Article IV Consultation-Press Release; and Staff Report
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|a Washington, D.C.
|b International Monetary Fund
|c 2022
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|a 73 pages
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|a Slovak Republic
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|a Real Estate
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|a Banks
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|a Finance
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|a Public finance & taxation
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|a Industries: Financial Services
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|a Deflation
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|a Fiscal Policy
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|a Housing
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|a Mortgages
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|a International organization
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|a Labor
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|a Property & real estate
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|a International institutions
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|a International Economics
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|a Macroeconomics
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|a Income economics
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|a International Agreements and Observance
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|a Depository Institutions
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|a Inflation
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|a International Organizations
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|a Labour
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|a Monetary economics
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|a Financial institutions
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|a International agencies
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|a Housing Supply and Markets
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|a Micro Finance Institutions
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|a Fiscal policy
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|a Demand and Supply of Labor: General
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|a Price Level
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|a Labor market
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|a Prices
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|a Monetary policy
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|a Monetary Policy
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|a Public Finance
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|a Money and Monetary Policy
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|a International Monetary Fund
|b European Dept
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|a eng
|2 ISO 639-2
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|b IMF
|a International Monetary Fund
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|a IMF Staff Country Reports
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|a 10.5089/9798400214684.002
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|u https://elibrary.imf.org/view/journals/002/2022/202/002.2022.issue-202-en.xml?cid=520147-com-dsp-marc
|x Verlag
|3 Volltext
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|a 330
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|a This 2022 Article IV Consultation discusses that the war in Ukraine has clouded the outlook for the Slovak economy while it was still recovering from the pandemic. The effects of the war are already felt through surging commodity prices, input shortages, subdued confidence, weaker global demand, and heightened energy security risks, given Slovakia’s heavy reliance on Russian energy imports. Fiscal policy needs to be flexible and ready to adjust, while avoiding adding to inflationary pressures. The immediate policy priority is to mitigate the economic fallout of the war and minimize the humanitarian crisis. Rebuilding fiscal buffers should begin once the economy is on a solid growth path, to create room for maneuver and accommodate rising ageing-related spending. Recent reforms to the fiscal framework and the pension system could significantly strengthen public finances. The multiyear spending ceilings should strengthen fiscal discipline, while the link between retirement age and life expectancy will improve fiscal sustainability
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