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MEFD July 2016

Published: Monday September 5th, 2016

Indications are that domestic economic conditions remained mildly positive over the review period, characterised by continued foreign investment-led construction activity, while the impulses from the tourism sector were modest. In prices developments, the inflation rate narrowed during the 12 months to June, reflecting the sustained impact of low global oil prices. Meanwhile, liquidity in the banking system firmed, buoyed by the Government’s financing activities, while the lowered import pressures, also from abated fuel prices, contributed to a modest gain in external reserves.