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Slovak crown seen firmer before euro entry

April 7, 2004 at 10:07 AM   |   Comments

BRATISLAVA, Slovakia, April 7 (UPI) -- The Slovak finance ministry said Wednesday it expects the national currency, the crown, to appreciate steadily before being replaced by the euro.

The finance ministry said it expected the crown to appreciate by 1.5 percent every year against the euro in real terms if planned economic reforms are implemented. Slovakia hopes to join the eurozone by the end of the decade.

Planned reforms include the balancing of the state budget by 2010.

Slovakia will join the European Union on May 1 with nine other countries.

© 2004 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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