Page 19 - ATA

A14 LOCAL
Wednesday 14 august 2019

Tickle your Taste Buds

with Tierra del Sol

NOORD — There is a place on the Lush Lunch
Northern part of the island that Guests praise Tierra del Sol res-
makes up for your perfect dream taurant for the magnificent views
meal. The location: the island’s rug- making it a popular lunch spot as
ged north coast and blue ocean well as a great after-golf lunch ex-
forming your panoramic from Tier- perience. Locals and visitors have
ra del Sol’s restaurant, either from been coming for years to Tierra del
the poolside outdoor terrace or Sol to unwind and let go in this el-
from the elegant indoor restaurant. egant yet laid-back setting.
The offering: From lunch to dinner
excellent cuisine, friendly service, Divine Dining
and a gorgeous setting, but now Tune in for an experience that will Restaurant at Tierra del Sol invites decide for Skirt Steak, Duck Veni-
even more special with the NEW give dining another perspective. you to taste as many tapa-sized son Duo or Pumpkin Risotto among
‘All You Can Taste’ concept – on We are not talking about the stan- items as you wish from their exten- others and to top it off with a sweet
from Tuesdays to Saturdays from dard 3-course menu, but about sive fine dining menu. surrender a Duo of Quesillo &
6PM – 10PM. a journey through taste-land. The Brownie, Melon Martini or Cheese-
Fresh Oysters, Tuna Crab Duo, cake are one of the choices. This
Bruchetta Caprese, Portobello all for a special price and including
Mushroom, Smoked Beef Tataki or a glass of sangria. Indulge into this
Chicken Curry Waldorf Salad are culinary discovery at the most ro-
only some of the welcoming dish- mantic scenery of our One Happy
es. For the main courses you can Island.q

TIERRA DEL SOL RESTAURANT
https://www.tierradelsol.com/dining/ Monday 11:00am — 3:00pm
Phone: (+297) 586-7800 Ext. 231 Tuesday – Saturday 11:00am – 10:00pm
Email: restaurant@tierradelsol.com Sunday Brunch 11:00am – 3:00pm

Economy inched forward as inflation rose in 2018

ORANJESTAD — The Centrale Bank van Aruba terioration in Aruba’s competitive position rela- the level of the official foreign reserves is in-
(CBA) published the State of the Economy of tive to the United States, explained mainly by creased over time.
2018. This publication provides a synopsis of the tightening in fiscal policies by the Aruban The government’s financial deficit fell by Afl.
the local and international economic develop- government. 87.2 million to Afl. 45.2 million at the end of 2018,
ments of this period. The domestic highlights are due primarily to a 6.5 percent expansion in rev-
presented below, including a summary of main The total money supply increased in 2018, pre- enues, partly the result of the increase in the tar-
economic indicators. dominantly because of an expansion in savings iffs of the BBO, the BAZV and the BAVP as of July
and time deposits. Total credit granted by the 1, 2018. Additionally, the rise in the BAZV rate
In 2018, Aruba’s economy experienced an es- commercial banking sector also expanded dur- reduced the general health insurance’s (AZV)
timated real growth of 0.9 percent. The main ing this period, caused primarily by a continuing deficit, and thus diminished the transfer by the
driver of growth was tourism services exports, growth in housing mortgages. During the same government to the AZV to cover the deficit. To-
which performed admirably well in 2018 despite period, net claims on the public sector grew. tal government debt expanded by Afl. 127.6
further contraction in the Venezuelan market. The weighted average interest rate fluctuated million to Afl. 4,286.5 million at the end of 2018
Other sectors of the economy lagged behind during the year, and at year-end was higher as the government entered into several exter-
resulting in lackluster investment and consump- than the year before. Meanwhile, the financial nal and domestic borrowings.
tion behavior. Tourism growth in Aruba out- soundness indicators measured improvements The current account of the balance of pay-
paced that of the Caribbean destinations as during 2018. Gross official reserves reached Afl. ments recorded an Afl. 24.4 million deficit in
a whole. All tourism indicators, with the excep- 1,778 million at end-2018, equal to 87.4 percent 2018, the first deficit in four years. The first quar-
tion of the number of cruise visitors, show that of the Assessing Reserve Adequacy (ARA) met- ter of 2018, with tourism at its peak level, was
Aruba outperformed Caribbean destinations ric applied by the IMF as an additional bench- the only quarter with a current account surplus.
on average, as indicated by figures from the mark to assess the adequacy of Aruba’s foreign The complete publication is available on the
Caribbean Tourism Organization. reserve holdings. Therefore, it is imperative that CBA’s website (www.cbaruba.org).q
According to the latest estimates, real con-
sumption in 2018 declined by 1.7 percent. On
average, in 2018 consumer sentiment con-
tracted by 0.8 percentage point to 95.4. Partly
due to delays and lack of new sizeable invest-
ment projects, the total level of investment (real
terms) fell by 1.9 percent in 2018.
The 12-month average CPI inflation stood at
3.6 percent in December 2018, the effect of in-
creased gasoline and food prices along with an
expansion in indirect tax rates. Energy and food
prices rose by 0.7 and 1.0 percentage point, re-
spectively. Also, the introduction of BAVP and a
higher BAZV tariff resulted in a core inflation of
1.8 percent for 2018. For the second consecu-
tive quarter, the real effective exchange rate
of the florin vis-à-vis the U.S. dollar increased in
the fourth quarter of 2018. This indicates a de-