{
  "title": "San Marino: Staff Report for the 2004 Article IV Consultation",
  "publication": "IMF Staff Country Reports, August 13, 2004",
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  "summary": "This 2004 Article IV Consultation for San Marino reports that the economy has slowed considerably since 2000 with the fading of key competitive advantages that had contributed to past rapid development.",
  "sections": [
    {
      "heading": "Economic performance",
      "content": "- The economy \"has slowed considerably since 2000\" with the \"fading of key competitive advantages that had contributed to past rapid development.\"\n- Objective identified: \"restore a positive net asset position and the ability to buffer adverse external shocks.\""
    },
    {
      "heading": "Fiscal strategy and objectives",
      "content": "- Authorities aim at \"maintaining the budget in balance or in surplus over the medium term while preserving tax rate advantages.\"\n- Fiscal consolidation is targeted without raising tax rates."
    },
    {
      "heading": "Reforms and implementation priorities",
      "content": "- To \"sustain fiscal consolidation with unchanged or lower tax rates, remaining tax administration problems need to be addressed and generous entitlement programs reformed.\"\n- Implicit policy priorities:\n  - Strengthen tax administration to close revenue shortfalls while keeping tax rates stable.\n  - Reform generous entitlement programs to reduce structural fiscal pressures."
    },
    {
      "heading": "Thematic coverage (as stated)",
      "content": "- Economic sectors\n- Employment\n- Expenditure\n- Financial sector\n- Labor\n- Pension spending\n- Public sector wages"
    },
    {
      "heading": "Keywords (as stated)",
      "content": "- agency Ufficio Italiano Cambi\n- anti-money laundering surveillance\n- asset sale\n- authority\n- central bank vis-à-vis\n- CR\n- Employment\n- Europe\n- Financial sector\n- Global\n- interest payment\n- ISCR\n- lower-than-projected personnel cost\n- Pension spending\n- Public sector wages\n- Sammarinese authorities\n\nSan Marino: Staff Report for the 2004 Article IV Consultation (August 13, 2004).\n\n---\n\n Content in this bundle\n\n- cr04257\n  - cr04257 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr04257 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: August 13, 2004",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451834857.002",
    "The economy \"has slowed considerably since 2000\" with the \"fading of key competitive advantages that had contributed to past rapid development.\"",
    "Objective identified: \"restore a positive net asset position and the ability to buffer adverse external shocks.\"",
    "Authorities aim at \"maintaining the budget in balance or in surplus over the medium term while preserving tax rate advantages.\"",
    "Fiscal consolidation is targeted without raising tax rates.",
    "To \"sustain fiscal consolidation with unchanged or lower tax rates, remaining tax administration problems need to be addressed and generous entitlement programs reformed.\"",
    "Implicit policy priorities:",
    "agency Ufficio Italiano Cambi",
    "anti-money laundering surveillance",
    "asset sale",
    "authority",
    "central bank vis-à-vis",
    "CR",
    "Europe",
    "Global",
    "interest payment",
    "ISCR",
    "lower-than-projected personnel cost",
    "Sammarinese authorities",
    "**_cr04257**"
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