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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. To restore a positive net asset position and the ability to buffer adverse external shocks, the authorities aim at maintaining the budget in balance or in surplus over the medium term while preserving tax rate advantages. To sustain fiscal consolidation with unchanged or lower tax rates, remaining tax administration problems need to be addressed and generous entitlement programs reformed.

Fiscal policy --- Finance --- Statistics --- Monetary policy --- Standards --- San Marino --- Economic conditions. --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Statistical analysis --- Statistical data --- Statistical methods --- Statistical science --- Mathematics --- Econometrics --- Funding --- Funds --- Economics --- Currency question --- Tax policy --- Taxation --- Finance, Public --- Government policy --- San Marino (Republic) --- S. Marino --- Repubblica di San Marino --- Most Serene Republic of San Marino --- Republic of San Marino --- République de San-Marin --- Serenissima Repubblica di San Marino --- Сан-Марино --- Республикэ Сан-Марино --- Respublikė San-Marino --- Сан-Марино Республикаhы --- San-Marino Respublikaḣy --- Сан-Марына --- San-Maryna --- Святлейшая Рэспубліка Сан-Марына --- Svi︠a︡tleĭshai︠a︡ Rėspublika San-Maryna --- Република Сан Марино --- Republika San Marino --- República de San Marino --- Ripóbblica de San Marein --- Nejvznešenější republika San Marino --- San Marinu --- Republica di San Marinu --- Tangnefeddusaf Weriniaeth San Marino --- Republik San Marino --- San Mawínoo Bikéyah --- Nejswětlejša republika San Marino --- San Marino Vabariik --- Αγιος Μαρινος --- Hagios Marinos --- Γαληνoτάτη Δημοκρατία του Αγίου Μαρίνου --- Galēnotatē Dēmokratia tou Agiou Marinou --- San Marein --- Ripóbblica d' San Marein --- Сан-Марино Мастор --- San-Marino Mastor --- Serenísima República de San Marino --- Respubliko San-Marino --- Serenísima Repúbrica de San Marinu --- San Marinoko Errepublika --- Lýðveldið San Marino --- Tjóðveldið San Marino --- Saint-Marin --- République de Saint-Marin --- San Mairíne --- Poblacht Ró-Gheal San Mairíne --- Pobblaght Ro-Ghial San Marino --- Canimarino --- Bururi wa Canimarino --- Jamhuri ya San Marino --- Sṳn Mâ-li-nok --- Сан Маринмудин Орн --- San Marinmudin Orn --- Sana Marino --- Republika ti San Marino --- Katalnaan a Republika ti San Marino --- USanti Marino --- סן מרינו --- רפובליקת סן מרינו --- Republiḳat San Marino --- San-Marino Mărtebelī Respublikasy --- Sen Marin --- Mutagatifu Marino --- Jamhuri ya kuheshimiwa ya San Marino --- Sen Maren --- Komara San Marînoyê --- San Marins --- Res Publica Sancti Marini --- Res Publica Serenissima Sancti-Marini --- Sanmarīno --- Gaišā Sanmarīno Republika --- San Marinas --- San Marino Respublika --- San Marin --- Santu Marino --- Batetwa Republíki ya Santu Marino --- Repüblica de San Marin --- San Marino Köztársaság --- Bu̇gd Naĭramdakh San-Marino Uls --- Cencah Tlanaliuhtimani Tlācatlahtocāyōtl San Marino --- Cencah Yōcoxqui Tlācatlahtocāyōtl San Marino --- Labor --- Macroeconomics --- Public Finance --- Industries: Financial Services --- Criminology --- Financial Institutions and Services: General --- Wages, Compensation, and Labor Costs: General --- Employment --- Unemployment --- Wages --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- Social Security and Public Pensions --- National Government Expenditures and Related Policies: General --- Labour --- income economics --- Pensions --- Public finance & taxation --- Corporate crime --- white-collar crime --- Financial sector --- Public sector wages --- Pension spending --- Expenditure --- Economic sectors --- Financial services industry --- Economic theory --- Expenditures, Public --- San Marino, Republic of --- Income economics --- White-collar crime