Czech economic flexibility little improved-report

19.12.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

The Czech economy has not raised its flexibility significantly over the past year and the budget deficit will not fall sustainably unless...

...further reforms are made, the central bank and the Finance Ministry said.

Their annual joint assessment of the Czech Republic's convergence towards adopting the euro confirmed an earlier stance that it has not progressed enough to set a target date for joining the euro zone.

The cabinet approved the assessment on Wednesday,

"The recommendation not to set a target date at the same time implies a recommendation for the Czech Republic not to attempt an entry into the ERM-2 mechanism in 2008," said a draft of the document obtained by Reuters. (Reporting by Jan Lopatka; editing by David Stamp))

Keywords: CZECH EURO/

[PRAGUE/Reuters/Finance.cz]

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