Inflation for the 12-month period up to October 2016 was 1.1% and the rate at the end of the year is expected to be 1.3% while next year’s projected figure is targeted at 2.5%.
This was disclosed in the 2017 budget presentation yesterday by Finance Minister Winston Jordan.
Addressing key statistics he said that the balance of payments deficit this year will contract to a projected US$29.2 million, from a deficit of US$107.7 million, in 2015. The current account balance is expected to move from a deficit of US$181.5 million, in 2015, to a projected deficit of US$100.8 million, at the end of 2016.
The merchandise trade balance will strengthen from a deficit of US$340.4 million in 2015 to a projected deficit of US$185.5 million, for 2016.
