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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