Yesterday, Friday 26 October, Marco Gatti, Minister of Finance and Budget, and Rossano Fabbri, Minister of Industry, Trade and Handicraft, met Alfred Kammer, Director of the IMF European Department, in a cordial atmosphere.
During the meeting, Mr Kammer praised San Marino’s progress, highlighting the steady improvement in the economy and budget, a view also shared by the IMF team that recently visited the country.
The Association Agreement and the opportunities offered by access to the single market were a central theme. Referring to an IMF study on the impact of EU membership on some Member States, Kammer pointed out that the structural reforms required for integration led to significant GDP growth.
Although the Association Agreement does not involve any EU membership for San Marino, but access to the single market, the Director encouraged San Marino to continue along the path chosen and to implement the necessary reforms to maximise these opportunities.
The last meeting of the day was with Federico Giammusso, Executive Director for San Marino, who will soon leave office. Also at this meeting, the Executive Director highlighted the considerable progress made by the country over the past five years and the excellent cooperation between the IMF and San Marino authorities, which has enabled the Republic to achieve important milestones.
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