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MEFD May 2015

Published: Thursday July 2nd, 2015

During May, an improving tourism sector performance, alongside foreign investment-related projects, underpinned a steady, yet mild, growth momentum for the Bahamian economy. Although the implementation of the Value Added Tax (VAT), in January, resulted in broad-based price gains, domestic inflation remained relatively low, being partly constrained by the pass-through effects of lower global oil prices. In the latest fiscal assessment, the VAT-led rise in revenue secured a sharp reduction in the overall deficit through April of FY2014/15. The monetary sector registered gains in both bank liquidity and external reserves, buoyed by net foreign currency inflows from real sector activities. 

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