Slovak crown seen firmer before euro entry

April 7, 2004 at 10:07 AM
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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.

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