MEFD February 2011

Published: Monday April 11th, 2011

Domestic economic conditions remained relatively stable over February, although there were some signs of softness in the key tourism sector, with construction sector activity supported by Government’s infrastructure works and several tourism-related investment projects. As the recovery has yet to translate into any notable improvement in labour market conditions, domestic demand continued to be weak, and opportunities for a reduction in banks’ credit quality indicators, limited. The fiscal situation through January benefitted from extraordinary revenue receipts arising from the sale of a business entity, with the converted proceeds bolstering both liquidity and external reserves.

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