• Czech government introduced its public finances reform. Public budgets deficit should decrease to 3.0% of GDP in 2008, 2.6% in 2009 and 2.3% in 2010. Reform should be a combination of cuts in expenses and tax changes.
• Foreign trade reached surprisingly high surplus of CZK
13.6bn. Exports increased by 19.5% while imports by 14.5%. After a slight deterioration of balance of trade in January, February brought significant improvement in nominal and real terms.
• Slovak central bank is intervening again on foreign exchange market today. With koruna
strengthening to 33.10 EUR/SKK, bank has started to buy euro
s to weaken koruna
• Slovak Ministry of Finance increased its estimate of GDP growth in Slovakia from 7.4% to 8.1%. Last year, Slovak economy increased its output by 8.3%.