Republic of San Marino: 2013 Article IV Consultation
Electronic Access:
Free Download. Use the free Adobe Acrobat Reader to view this PDF file
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. 2013/122
Subject:
Expenditure Financial institutions International organization Loans Monetary policy Nonperforming loans Public debt Revenue administration
English
Publication Date:
May 17, 2013
ISBN/ISSN:
9781484346921/1934-7685
Stock No:
1SMREA2013001
Pages:
42
Please address any questions about this title to publications@imf.org