Republic of San Marino : 2013 Article IV Consultation

Author/Editor:

International Monetary Fund. European Dept.

Publication Date:

May 17, 2013

Electronic Access:

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Summary:

This Article IV Consultation focuses on San Marino’s prolonged recession. The global crisis has led to a significant decline in budget revenues. However, San Marino’s sizable pre-2008 budget surplus, combined with recent tax measures and efforts to restrain expenditures, have helped contain the deficit at about 3 percent of GDP. Executive Directors noted that San Marino’s economy will face financial and fiscal challenges in the near term, as well as uncertain medium-term prospects. Directors considered that, notwithstanding the recent recapitalization, the largest bank will need more capital to meet prudential requirements.

Series:

Country Report No. 13/122

Subject:

English

Publication Date:

May 17, 2013

ISBN/ISSN:

9781484346921/1934-7685

Stock No:

1SMREA2013001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

42

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