MEFD May 2014
Published: Friday June 27th, 2014
Indications are that the domestic economy continued to experience modestly positive growth in May, supported by steady gains in foreign investment-led construction activity, although tourism output appeared to soften. In the absence of a broadening of the growth momentum, unemployment remained elevated, while the relative stability in global oil prices contributed to subdued domestic inflationary pressures. In monetary developments, both bank liquidity and external reserves expanded, buoyed by net foreign currency inflows from real sector activities.
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