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Kingdom of the Netherlands: Aruba: 2013 Article IV Consultation: Staff Report, Informational Annex, Press Release
Author:
International Monetary Fund. European Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2013: Issue 258
Language:
English
Publication Date:
09 Aug 2013
DOI:
https://doi.org/10.5089/9781484307540.002
ISBN:
9781484307540
ISSN:
1934-7685
Pages:
45
Keywords:
ISCR; CR; Aruba; financing; holding; below-the-line financing; government finance statistics; financing category; money market rate; deficit beginning; Tourism; Caribbean; South America; Global
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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.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund