MEFD December 2010

Published: Wednesday February 2nd, 2011

Domestic economic conditions maintained a stable path during the month of December, amid the slow recovery in the global economy, which supported modest improvement in the main tourism sector. However, output in the construction industry remained weak, given subdued levels of foreign investments and domestic private sector projects. In this context, there appears to be little change in employment conditions and the Government’s overall deficit widened over the first five months of fiscal year 2010/11. Monetary developments showed a modest build-up in bank liquidity, while seasonal demand factors resulted in a slight contraction in external reserves.

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