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Monthly Economic Briefing |
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Summary |
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The outlook continues to dim markedly, as both the
external and domestic sectors are likely to lose steam amid the
international financial crisis. Exports are currently expected to contract,
as the external sector suffers from falling commodity prices and slowing
external demand, especially in the United States and Venezuela, the
country’s largest trading partners. On a positive note, inflation appears to
have turned the corner and is likely to moderate in the coming quarters,
which should enable the Central Bank to adopt a looser monetary policy to
help buttress growth.
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