Economic Forecast Monitor October 2016 Centrale Bank van Aruba


The Aruban economy is projected to expand (in real terms) by 0.4 percent in 2016, provided that the investment activities with respect to restart and upgrading of the oil refinery get underway. The effects hereof will be substantially larger in subsequent years as additional investments are assumed for the period of 2018 onwards, during which time the oil refinery is expected to become fully operational. Preliminary estimates of CBA indicate real GDP growth of 3.2 percent for 2017.


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