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MEFD April 2008

Published: Thursday June 12th, 2008

Initial data for the month of April indicated continued moderation in output growth, amid weakened construction activity and softness in consumer spending, although first quarter tourism indicators registered gains over the previous year. Money and credit conditions remained favourable, as both external reserves and liquidity were boosted by public sector borrowing activities and a significant one-off revenue receipt. Private sector credit growth maintained an easing trend, with no further deterioration in credit quality.

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