The slowing is evident in fixed asset investment, although overall activity continues to be supported by strong conditions in the property sector and rapid growth in infrastructure investment. In addition, a number of structural developments are providing some offset to the tightening in credit conditions. In recent years, the services sector has become the strongest contributor to growth, and consumption has been resilient.
The People’s Bank has signed bilateral technical cooperation agreement or established bilateral technical cooperation fund with the Africa Development Bank, West Africa Development Bank, and Caribbean Development Bank.