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A14 LOCAL
Tuesday 18 december 2018

5th Christmas edition of Cadushi Festival

ORANJESTAD — The count-
down just began for the an-
nual event of Cadushi Festi-
val which this year marks its
9th edition and the 5th with
the Christmas sphere. They
are ready to show you a
unique side of Aruba.

The idea for this festival was
born out of a perceived ne-
cessity for a different kind
of activity on the island, an
inspiring alternative gather-
ing place for curious souls
which could simultaneously a friend’s yoga studio on a atives in general. Aware- to live mindfully as well as and unique initiatives.
serve as a showcase for lo- low-budget and was com- ness promoting activities to support Aruba’s local Upcoming Saturday De-
cal artists, small business, pletely independent. The such as meditation, yoga, artists and entrepreneurs cember 22nd the Cadushi
brave hearts and creative, first Cadushi Festival had handmade, recycled, reus- while enjoying their stay in Festival awaits you at the
out-of-the-box entrepre- an amazing response and able products and health Aruba. Nikki Habibe square in the
neurs. it set the tone for the festi- conscious products can Slow down, buy local, is the heart of Oranjestad from 5
Having lived in the Nether- vals to follow. also be found at the Ca- Cadushi Festival’s slogan. PM to 11 PM. Come gath-
lands for many years, the The Cadushi Festival aims to dushi Festival. You will fur- Slow down, in order to re- er and connect with other
founding members Carina inspire and connect peo- thermore find a variety of turn to our natural ways, like-minded individuals in a
and Julienne had been ple of all walks of life, both unique food and beverage live more consciously and positive and nourishing set-
missing the festival ambi- adults and kids, who seek stands and activities such mindfully as a way to bal- ting where you will be sure
ance ever since returning enrichment of their lives on as sound healing, tarot, ance out the tendency to leave feeling inspired,
back home and decided a physical, mental and spir- creative workshops and live to make everything faster energized and empow-
to recreate this through itual level. The festival pro- performances. The Cadushi (fast food, fast living etc). ered.
the activity which is now motes a more conscious Festival is not only aimed at And lastly, buy local, which
known as the Cadushi Fes- lifestyle and highlighs the the locals but also at the focuses on supporting local For more information visit
tival. The very first Cadushi importance of supporting tourists showing them a dif- artists, the creative and the their facebook page Ca-
festival took place back in local artists, artisans, small ferent and unique side of entrepreneurial community dushi Festival. q
2014 in the garden behind business owners and cre- Aruba, encouraging them while encouraging new
Tourism bolsters economy in the first six months of 2018

ORANJESTAD — Today the of GDP, for the first half of
Centrale Bank van Aruba 2018. Revenues showed
(CBA) publishes the State a significant growth, ris-
of the Economy of the first ing by 10.9 percent (+Afl.
two quarters of 2018. This 65.7 million) compared to
publication provides a syn- the first half of 2017. Driv-
opsis of the local and in- ing this revenue growth
ternational economic de- was an expansion in both
velopments of this period. tax revenues and non-tax
The highlights hereof are revenues. Stronger com-
presented below, including the mixed results emanat- ward trend in the first half sector as a result of the net pliance helped to bolster
a summary of main eco- ing from various consump- of 2018 resulting in an end- purchase of issued govern- tax revenue collection, to
nomic indicators. tion and investment indica- of-period inflation of 3.4 ment paper by the com- some extent supported by
tors. Consumer confidence percent in June. Gasoline mercial banks. The devel- the continued efforts of the
In comparison to 2017, declined, while business prices on average picked opment of the net Tax Office to collect tax ar-
Aruba’s economy seems to confidence contracted. up by 10.6 percent in the foreign assets’ position is rears. The jump in non-tax
have performed marginally On the other hand, the pro- first two quarters of 2018. above the traditional norms revenue was due mainly
better in the first six months ceeds from consumption- Fruit prices experienced a monitored by the Monetary to higher dividend income
of 2018. The available tour- related taxes increased, spike of 4.0 percent from Policy Committee (MPC) of revenue from state-owned
ism indicators show con- whereas on-going large January to February 2018 the CBA. Reserves thus re- companies (+Afl. 49.6 mil-
sistent buoyant develop- investment projects con- (month on month), due to mained at an adequate lion). Expenditure outlays
ments as the number of tinued, and the value of the closure of the Venezu- level throughout the first fell slightly by Afl. 4.9 million
stay-over and cruise visitors, housing mortgages grew. elan border for trade with two quarters of 2018. Do- to Afl. 675.2 million in the
nights spent, as well as ho- Imports expanded signifi- Aruba. Inflation is anticipat- mestic credit extended to period under review, as de-
tel occupancy and hotel cantly in almost every cate- ed to rise further, pushed the private sector expand- velopment fund spending
revenues turned into mark- gory, likely driven by higher up by the higher turnover ed by 0.8 percent to Afl. halted with the cessation of
edly strong growth figures. demand from tourists and tax rate and BAZV rate as 3,159.2 million at the end of this fund. The government
Likewise, tourism receipts large investment projects. of July 1, 2018. the second quarter of 2018 debt reached Afl. 4,178.9
as reported by commercial Combined with declining Total money supply wid- compared to the end of million. As a result, the
banks trended strongly in (non-tourism) exports, this ened to Afl. 4,330.7 million the fourth quarter of 2017. debt-to-GDP ratio stood at
the first six months of 2018. increase in imports signified by end June 2018. This was The fiscal deficit (on a cash 85.6 percent at the end of
The upbeat effects of tour- a further deterioration of caused mainly by an Afl. basis) of the Government the period, 1.2 percentage
ism development are, how- Aruba’s trade deficit. 126.2 million net expan- of Aruba improved to Afl. points lower than at the
ever, mitigated in part by CPI inflation saw an up- sion of credit to the public 2.9 million, or −0.1 percent end of 2017. q