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MEFD, June 2019

Published Friday July 26th, 2019

According to preliminary data, the modest-paced improvement in the domestic economy was sustained over the review period, with tourism sector output remaining buoyant, as evidenced by the continued record growth in high value-added stopover arrivals. In addition, ongoing small and medium-scale foreign investment projects undergirded construction sector activity. Monetary sector developments featured an expansion in bank liquidity, owing mainly to an increase in Central Bank financing to the Government, while the seasonal rise in foreign currency demand led to a decline in external reserves.

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