MEFD March 2016
Published: Tuesday May 3rd, 2016
Preliminary economic indicators suggest that economic conditions remained relatively subdued over the review period, amid tempered tourism sector activity, while several varied-scale foreign investment projects supported construction sector output. In line with the sustained weakness in global oil prices, domestic inflation remained mild. The fiscal deficit narrowed over the eight months of FY2015/16, as the value-added tax (VAT) led gain in revenue outpaced the increase in spending. On the monetary front, both liquidity and external reserves firmed over the review month, supported by net foreign currency inflows from real sector activities.
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