MEFD November 2013

Published: Friday December 20th, 2013

Indications are that domestic economic conditions stabilised somewhat during November, as a number of varied-scale foreign investment projects supported construction activity, and tourism output showed initial signs of a modest improvement, relative to the prior year when adverse weather conditions caused some disruption to visitors’ travel itineraries. Consumer price inflation remained mild, benefitting from the pass-through effects of lower global oil prices. In the monetary sector, the expansion in bank liquidity was partly associated with the proceeds from Government’s foreign currency borrowings, which also tempered the falloff in external reserves.

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