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MEFD January 2018

Published: Monday February 26th, 2018


Indications are that the domestic economy sustained its modest improvement in January, reflecting the strengthening in tourism sector output, combined with foreign investment-led construction activity. Given higher global oil prices, the consumer price index increased in 2017, a reversal from the slight decline in the prior year. Government’s budgetary operations featured a reduction in the deficit over the first half of FY2017/18, amid higher tax receipts and a decline in capital spending. Monetary sector developments featured a build-up in both liquidity and external reserves, buoyed by the Government’s external borrowing activities.

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