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MEFD December 2013

Published: Thursday January 30th, 2014

Preliminary indications are that domestic economic conditions were mildly positive in December, supported by ongoing foreign investment projects and a slightly improved tourism outcome. Consumer price inflation remained relatively benign, although there was moderate firming in domestic energy prices. The fiscal situation improved, as the Government’s overall deficit contracted for the five months through November of FY2013/14, owing to a decline in spending and a slight increase in revenue. Monetary sector developments featured a build-up in external reserves, due to Government’s foreign currency borrowings, while there was a mild seasonal decline in bank liquidity and credit quality indicators deteriorated.

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