MEFD April 2013

Published: Thursday June 6th, 2013

Domestic economic conditions were relatively subdued during the month of April, reflecting signs of softness in the tourism sector, although with stable support from foreign investment-led construction activity. Domestic energy costs eased somewhat for the review period, in line with the general downward trend in international oil prices. In the fiscal sector, the overall deficit expanded over the nine months of FY2012/13, as spending increased and revenue receipts moved lower. Supported by net foreign currency inflows associated with real sector activities, both bank liquidity and external reserves expanded in April.

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