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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)
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