Page 11 - CMB

A16 LOCAL
Thursday 12 July 2018

CBA presents Net Foreign Assets summary

ORANJESTAD ― In February eign assets of the banking than in February 2017. This tors increased by 7,883 a rise in tax revenue (+Afl.
2018, money supply ex- sector resulted from net growth was mainly attrib- passengers or 8.6 percent 13.0 million) and a de-
panded by Afl. 49.1 million purchases of foreign ex- uted to an expansion in the to 99,303 in February 2018, crease in non tax revenue
to Afl. 4,332.6 million, com- change (+Afl. 233.0 million) North American market, compared to February (-Afl. 0.5 million).
pared to January 2018, from the public, mainly as- largely due to a rise in ar- 2017. The number of ship
resulting from increases in sociated with foreign ex- rivals from the United States calls expanded from 38 in The rise in tax revenue was
both net domestic assets change revenue from tour- (+4,251 visitors or +7.5 February 2017 to 41 in Feb- mainly related to increases
(+Afl. 23.5 million) and net ism activities. These were percent). The latter was ruary 2018. in income from excises on
foreign assets (+Afl. 25.6 largely offset by net sales largely counterbalanced gasoline (+Afl. 5.2 million),
million). The rise in the do- of foreign exchange (-Afl. by a reduction in the Latin Government wage tax (+Afl. 3.1 mil-
mestic component of the 207.4 million) to the pub- American market mainly Total government revenue lion), import duties (+Afl.
money supply stemmed lic, related to goods, and because of a contraction amounted to Afl. 79.8 mil- 1.9 million) and turnover tax
from an increase in do- net transfers to foreign ac- in arrivals from Venezuela lion in February 2018, Afl. (B.B.O.) (+Afl. 1.5 million).
mestic credit (+Afl. 51.2 counts. (-4,098 visitors or -75.6 per- 12.5 million more than the These increases were partly
million) and a decrease in cent). same month of the previ- offset by a decrease in rev-
non-credit related balance Inflation ous year. enues from motor vehicle
sheet items (-Afl. 27.7 mil- The consumer price index The number of cruise visi- This outcome resulted from fees (-Afl. 1.9 million).q
lion). (CPI) for February 2018 not-
ed a 1.9 percent increase
The expansion in domes- year-over-year (YOY). The
tic credit was caused by main contributors to this
increases in both the net rise were the components
claims of the banking sec- “Transport” and “Food and
tor on the public sector Non-Alcoholic Beverages”.
(+Afl. 37.1 million), mainly Excluding the effect of
because of a reduction in food and energy, the core
the deposits of the govern- CPI rose by 0.9 percent
ment (-Afl. 41.9 million), and (YOY). The 12-month aver-
in the claims on the private age inflation rate was -0.2
sector (+Afl. 14.1 million), percent in February 2018,
due to increases in loans compared to -0.4 percent
to enterprises (+Afl. 8.4 mil- in January 2018.
lion) and housing mortgag-
es (+Afl. 8.0 million), and a Tourism
drop in consumer credit The number of stay over vis-
(-Afl. 2.4 million). itors amounted to 85,017 in
February 2018, which is 854
The increase in the net for- more visitors (+1.0 percent)