Page 28 - ARUBA BANK
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A16 LOCAL
Friday 21 June 2019
Foreign exchange earnings from tourism drive NFA growth
Summary of the Monthly Bulletin of April 2019
ORANJESTAD — Monetary in April 2019, resulting from change from the public (CPI) for April 2019 noted
developments: Compared increases in both net for- The growth in the net for- (+Afl. 228.8 million), mainly a 4.7 percent increase
to March 2019, money sup- eign assets (+Afl. 43.5 mil- eign assets of the banking associated with foreign ex- year-over-year (YOY). The
ply expanded by Afl. 55.8 lion) and net domestic as- sector resulted from net change revenue from tour- main contributors to this
million to Afl. 4,461.9 million sets (+Afl. 12.3 million). purchases of foreign ex- ism exports. rise were the components
“Food and Non-Alcoholic
This was largely offset by Beverages”, “Transport”
net sales of foreign ex- and “Communication”.
change to the public (-Afl. Furthermore, by exclud-
185.3 million), mostly relat- ing the effect of food and
ed to payments for goods, energy, the core CPI grew
net transfers to foreign ac- by 3.0 percent (YOY). The
counts and other services. 12-month average infla-
tion rate was 4.3 percent in
The upsurge in the domes- April 2019, compared to 4.1
tic component of the mon- percent in March 2019.
ey supply was caused by
increases in non-credit re- Government
lated balance sheet items Total government revenue
(+Afl. 11.4 million) and do- amounted to Afl. 87.9 mil-
mestic credit (+Afl. 0.9 mil- lion in April 2019, Afl. 4.4
lion). million more than the same
month of the previous year.
The increase in domestic This outcome resulted from
credit resulted from an ex- a rise in tax revenue (+Afl.
pansion in the net claims of 8.5 million), which was par-
the banking sector on the tially mitigated by a reduc-
public sector (+Afl. 8.0 mil- tion in nontax revenue (-Afl.
lion), which was almost en- 4.2 million).
tirely offset by a decrease
in the claims of the banking The expansion in tax rev-
sector on the private sector enue resulted mainly from
(-Afl. 7.1 million). a growth in turnover tax
(+Afl. 9.5 million; introduc-
The upturn in net claims of tion of the B.A.V.P as op-
the banking sector on the posed to the same month
public sector resulted from in 2018), income tax (+Afl.
a decline in government 3.2 million) and transfer tax
deposits of Afl. 8.1 million. (+Afl. 2.3 million). These in-
The drop in the claims of creases were mostly offset
the banking sector on the by decreases in wage tax
private sector was attribut- (-Afl. 3.3 million), foreign
ed to decreases in loans to exchange tax (-Afl. 3.0 mil-
enterprises (-Afl. 8.9 million) lion) and profit tax (-Afl. 1.9
and consumer credit (-Afl. million).
3.9 million), and a growth
in housing mortgages (+Afl. Tourism
5.2 million). Please note that figures on
tourism were not yet avail-
Inflation able at the time of publica-
The consumer price index tion of this bulletin.
