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MEFD January 2017

Published Friday February 24th, 2017

Overview

Preliminary indicators suggest that domestic economic activity remained soft during January. This reflected subdued tourism gains, which dampened strengthened construction output from the post hurricane rebuilding efforts and stimulus from varied-scale foreign investment projects. The Government’s hurricane recovery related expenditure hike, alongside disrupted revenue collections, contributed to a sizeable expansion in the fiscal deficit during the first half of FY2016/17. In the monetary sector, both bank liquidity and external reserves increased in January, buoyed by net foreign currency inflows from real sector activities.

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