četrtek, december 30, 2004

Jansa says 2005 will pose economic challenges

Prime Minister Janez Jansa told AFP that the coming year will be a challenging one for Slovenia as it strives to prepare itself to join the euro zone as early as 2007. According to Jansa, the country only meets half of the convergence criteria so far.

On 27 June, Slovenia entered ERM II, which formally pegged the Slovene tolar to the euro and market a major step forward along the path of taking on the euro as the national currency. Slovenia must be part of ERM II for two years before it can take on the euro, which means that 27 June 2006 would be the earliest date possible [SB / 29.07.04 / Slovenia one step closer to euro].

However, other convergence criteria are not expected to be met so quickly. For example, inflation must be reduced to levels acceptable to the eurozone. Jansa also cited limiting the public deficit as another challeng for Slovenia [AFP / 29.12.04 / Slovenian PM Jansa: 2005 “toughest” year in Slovenia's preparation for euro].