MEFD April 2014
Published: Tuesday June 10th, 2014
Indications are that domestic economic activity was relatively modest over the review month, based on an improved tourism performance and steady support for the construction sector from foreign investments. Inflation remained subdued, reflecting the relative stability in global oil prices. In the fiscal sector, the overall deficit narrowed over the nine months of FY2013/14, due to the combined effects of higher non-tax receipts and reduced infrastructure-related capital outlays. Monetary sector developments featured expansions in both liquidity and external reserves, benefitting from net foreign currency inflows related to real sector activities.
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