MEFD February 2014

Published: Friday March 28th, 2014

Indications are that domestic economic activity remained relatively mild during February, constrained by softness in the key tourism sector—although foreign investment-led activity sustained growth in construction output and related employment opportunities. Consumer price inflation was benign, but featured modest swings within several key components of the Retail Price Index. In monetary developments, weakness in private sector credit kept bank liquidity at above average levels, while ongoing demand for foreign currency to meet current payments led to a contraction in external reserves.

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