MEFD October 2014

Published: Wednesday December 3rd, 2014

Preliminary evidence suggests that the domestic economy maintained a mildly positive growth momentum during the month of October, reflecting modest gains in the high value-added stopover segment of the tourism sector and stable contributions to construction output from foreign investment activities. In other real sector developments, consumer price inflation for the twelve months to October trended upwards, notwithstanding a decline in the energy component, and there was no significant change in employment conditions. The fiscal situation featured a widening in the overall deficit during the first two months of FY2014/15, based on increased current outlays and a marginal fall-off in revenue receipts. On the monetary side, both bank liquidity and external reserves contracted, amid the seasonal increase in foreign currency demand to facilitate current payments. 

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