Kingdom of the Netherlands: Aruba: 2013 Article IV Consultation: Staff Report, Informational Annex, Press Release
August 9, 2013
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This 2013 Article IV Consultation highlights that economic output in Aruba remains 12 percent below its pre-crisis level, with recovery slower than others in the Caribbean region. The non-oil current account (CA) balance, which mostly reflects developments in the tourism sector, has improved since mid-2000 reaching a balanced position in 2012. The overall CA balance, however, after being in surplus for years, showed volatilities in recent years reflecting oil-sector developments. In 2012, it recorded a surplus of 5 percent of GDP. In 2013, real output is projected to grow by 1¼ percent. Robust tourism growth and some pickup in consumption from projected deflation will support the subdued near-term recovery.
Subject: Banking, Economic sectors, Expenditure, External debt, Public debt, Revenue administration, Tourism
Keywords: Aruba, below-the-line financing, Caribbean, CR, deficit beginning, financing, financing category, Global, government finance statistics, holding, ISCR, money market rate, South America, Tourism
Pages:
45
Volume:
2013
DOI:
Issue:
258
Series:
Country Report No. 2013/258
Stock No:
1ABWEA2013001
ISBN:
9781484307540
ISSN:
1934-7685
