Statistics & Publication
Monthly Economic Report - April 2005 (Provisional)
Friday, 29 April 2005 00:00

Monthly Economic Report - April 2005 (Provisional)

Macroeconomic developments in April 2005 were satisfactory. The narrow budget recorded a surplus for the first time in the year on account of stronger domestic revenue mobilisation. Monetary developments showed that growth in reserve money declined in the month underpinned by a slower growth in Net Foreign Assets (NFA) and a decline in Net Domestic Assets (NDA). Consumer Price Inflation also declined for the first time in the year after the petroleum price adjustments. Gross foreign reserves rose from 3.2 months of import cover in the previous month to 3.3 months in April while the cedi was relatively stable in both the interbank and forex bureaux markets.

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Economic Reviews