Page 25 - ARUBA BANK

A14 LOCAL
Monday 27 noveMber 2017
Money Supply Increased:
Summary of July 2017 Monthly Bulletin
ORANJESTAD - In July 2017, tor (+Afl. 2.0 million). foreign assets of the bank- can market of 5,874 visitors Centrale Bank van Aruba,
money supply expanded The increase in the net ing sector resulted from net (+9.2 percent) was primar- tel. +(297)-525-2100, e-mail
by Afl. 60.3 million toAfl. claims of the banking sec- sales of foreign exchange ily responsible for this ex- statistics.department@
4,194.5 million, compared tor on the public sector to the public (-Afl. 180.8 pansion. In contrast, the cbaruba.orgq
to June 2017, resulting from was mainly attributed to a
a growth in net domestic fall in the deposits of the
assets (+Afl. 81.5 million) government (-Afl. 81.2 mil-
and a decline in net foreign lion). Claims on the private
assets (-Afl. 21.1 million). sector went up mainly due
to an upturn in housing
The increase in the do- mortgages (+Afl. 6.2 mil-
mestic component of the lion), which was largely mit-
money supply was caused igated by declines in loans
by a rise in domestic credit to enterprises (-Afl. 3.1 mil-
(+Afl. 85.3 million), while lion) and consumer credit
non-credit related balance (-Afl. 1.1 million).The drop in
sheet items registered a the non-credit related bal-
downturn (-Afl. 3.8 million). ance sheet items resulted
Domestic credit expanded primarily from an increase
due to increases in the net in shareholders’ equity, de-
claims of the banking sec- creases in borrowings and
tor on the public sector accounts receivable and
(+Afl. 83.2 million) and in prepayments, and clearing
the claims of the banking transactions.
sector on the private sec- The reduction in the net
million), mainly associated Latin American market reg-
with goods, net transfers istered a decrease of 8.0
to foreign accounts, other percent (-1,826 visitors).
services, other investment, The increase in the North
current transfers, and fi- American market was pri-
nancial derivatives. This marily due to a rise in arriv-
was largely offset by net als from the United States
purchases of foreign ex- (+5,462 visitors or +8.9 per-
change from the public cent). The decrease in the
(+Afl. 159.6 million),mainly Latin American market was
related to foreign ex- mainly caused by a drop
change revenue from tour- in visitors from Venezuela
ism activities, transporta- (-4,059 visitors or -29.1 per-
tion services, and direct cent).
investment. The number of cruise visitors
registered a rise of 12,967
Inflation passengers or 68.5 per-
The consumer price index cent to 31,888 in July 2017,
(CPI) for July 2017 noted a compared to July 2016. The
1.1 percent decrease year- number of ship calls ex-
over-year (YoY). The main panded from 8 in July 2016
contributor to this decline to 14 in July 2017.
was the component “Hous-
ing”, which was mainly Government
driven by a fall in electric- In July 2017, total govern-
ity. Other components also ment revenue amounted
noting decreases were to Afl. 77.9 million, which
“Transport”, “Recreation was Afl. 27.7 million less than
and culture”, “Household the same month of the pre-
operation”, and “Commu- vious year. This downturn
nication”. In contrast, the resulted from declines in
components “Food and both tax revenue (-Afl. 20.6
Non-Alcoholic Beverages”, million) and nontax reve-
“Education”, and “Restau- nue (-Afl. 7.3 million).
rant and Hotels” registered The reduction in tax rev-
increases.Excluding the ef- enue resulted mainly from
fect of food and energy, decreases in profit tax (-Afl.
the growth in the core CPI 23.5 million) and land tax(-
was 0.1 percent (YoY).The Afl. 4.9 million), which were
12-month average inflation slightly offset by expansions
rate remained unchanged in revenue from income tax
at -0.4 percent in July 2017, (+Afl. 3.3 million), foreign
compared to June 2017. exchange tax (+Afl. 2.4 mil-
lion), and wage tax (+Afl.
Tourism 1.1 million).
In July 2017, the number of
stay-over visitors amount- For further information or a
ed to 102,272, which is more detailed analysis, visit
2,854 visitors (+2.9 percent) our website (www.cbaru-
more than in July 2016. The ba.org) or contact the Sta-
growth in the North Ameri- tistics Department of the