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MEFD June 2010

Published: Monday August 9th, 2010

Preliminary indicators suggest ongoing weakness in economic output, although conditions have stabilized since the onset of the recent economic crisis, in the context of the global recovery. Aided by promotional activities to boost arrivals and occupancy levels, the tourism sector recorded modest gains year-on-year, but the performance remains below 2008’s level. Sharply moderated foreign investment inflows provided some support to construction activity, which is also receiving reduced stimulus from domestic activities, as evidenced by subdued growth in mortgage lending.

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