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2008 Annual Economic Report Released

"The AER Report presents an overview of the following areas"

The AER Report presents an overview of the following areas:


The global and regional economic environment in 2008 including world GDP and inflation, global finance and regional tourism indicators;



The country’s macroeconomic performance in 2008 comprising of the gross domestic product, price inflation, employment, imports, money and banking;



Key developments in the financial services sector, tourism, construction, real estate and utilities (electricity, water and telecommunications);



Fiscal operations of the central government covering revenue, expenditures, primary balance, net financing and debt service indicators and



The macroeconomic outlook for 2009, i.e., GDP, inflation and the key risk factors for both.


The AER includes an Executive Summary, and a Statistical Appendix. This year’s edition of the AER features the following box articles:


Recent Financial Crisis: Some Historical Notes

Commercial Bank Credit in the Cayman Islands
Impact of the Global Financial Crisis on Financial Services
Legislative Changes in the Financial Sector
Impact of the Global Credit Crisis on Tourist Arrivals