Page 16 - aruba-today-20180224

A16 LOCAL
Saturday 24 February 2018

Summary of the Monthly Bulletin of December2017: Tourism decreased by 1,867 pas-
Monetary Developments: Net Foreign Assets Increased In December 2017, the sengers or 1.9 percent to
number of stay-over visi-
98,775 in December 2017,
tors amounted to 105,544, compared to December
ORANJESTAD - In Decem- money supply was caused to enterprises (+Afl. 3.3 mil- which is 8,502 visitors (+8.8 2016. The number of ship
ber 2017, money supply by a surge of Afl. 39.5 mil- lion). Consumer credit, on percent) more than in De- calls expanded from 47 in
expanded by Afl. 88.7 mil- lion in non-credit related the other hand, decreased cember 2016 (Chart 4). This December 2016 to 51 in
lion to Afl. 4,239.9 million, balance sheet items, which by Afl. 6.1 million. growth was mainly due to December 2017.
compared to November was largely offset by an the expansion in the North
2017, resulting from growth Afl. 22.2 million contrac- Inflation American market of 10,228 Government
in both net foreign assets tion in domestic credit. The The consumer price in- visitors (+16.6 percent), In December 2017, to-
and domestic assets, of Afl. surge in non-credit related dex (CPI) for December which was partially coun- tal government revenue
71.4 million and Afl. 17.3 balance sheet items was 2017 noted a 0.3 percent terbalanced by a reduc- amounted to Afl. 143.1 mil-
million, respectively. mostly related to a decline decrease year-over-year tion in the Latin American lion, which was Afl. 7.7 mil-
in other liabilities and clear- (YoY). The main contributor market of 2,000 visitors (-8.1 lion more than the same
The increase in the net for- ing transactions. Domestic to this decline was the com- percent). month of the previous
eign assets of the banking credit contracted due to ponent “Housing”, which year. This resulted from an
sector resulted from net the drop in the net claims was mainly driven by a fall The increase in the North increase in tax revenue of
purchases of foreign ex- of the banking sector on in electricity. Other com- American market was Afl. 39.6 million, which was
change of Afl. 252.6 million the public sector (-Afl. 25.2 ponents also noting de- largely due to a rise in ar- largely offset by a contrac-
from the public mainly as- million), while claims of creases were “Recreation rivals from the United States tion in nontax revenue of
sociated with foreign ex- the banking sector on the and Culture”, “Household (+9,302 visitors or +16.7 per- Afl. 31.9 million.
change revenue from tour- private sector increased Operation” and “Clothing cent). The decline in the The upturn in tax revenue
ism activities, net transfers (+Afl.3.0 million). and Footwear”. Converse- Latin American market was was mainly related to in-
from foreign accounts, oth- The decrease in the net ly, the components “Trans- mainly because of a reduc- creases in profit tax (+Afl.
er investments, transporta- claims of the banking sec- port”, and “Restaurant and tion in arrivals from Venezu- 34.0 million),land tax (+Afl.
tion services and direct in- tor on the public sector Hotels” registered increas- ela (-3,506 visitors or -22.9 4.2 million), transfer tax
vestments. This was largely was mainly attributed to es. Excluding the effect of percent, partially mitigated (+Afl. 2.7 million), income
offset by net sales of for- an increase in the deposits food and energy, the core by increases in visitors from tax (+Afl. 1.9 million) and
eign exchange of Afl. 181.3 of the government of Afl. CPI rose by 0.2 percent Colombia (+742 visitors or receipt from motor vehicle
million to the public, mainly 32.6 million. The upturn in (YoY). The 12-month aver- +18.2 percent), Argentina fees (+Afl. 1.1 million). In
related to goods, other ser- the claims of the banking age inflation rate remained (+534 visitors or +40.8 per- contrast, decreases were
vices, current transfers and sector on the private sector unchanged at -0.5 percent cent), and Brazil (+411 visi- registered in wage tax (-Afl.
income. was attributed to expan- in December 2017, com- tors or +29.5 percent). 4.2 million) and import du-
The expansion in the do- sions in housing mortgages pared to November 2017. The number of cruise visitors ties (-Afl. 1.5 million).q
mestic component of the (+Afl. 5.8 million)and loans