MEFD December 2011

Published: Friday February 3rd, 2012

Indications are that the domestic economy maintained a positive, although mild, growth momentum, during the month of December. More favourable foreign investment activity, alongside ongoing public sector infrastructure projects, buoyed construction output and the tourism sector benefitted from stronger seasonal hotel earnings. The central Government’s overall deficit contracted over the first five months of FY2011/12, occasioned by an increase in revenues and a marginal decline in expenditures. In the monetary sector, liquidity and external reserves rose modestly, supported by net foreign currency inflows arising partly from foreign investment and Government’s financing activities.

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