Imports will increase because of more imports by the manufacturing and wholesale & retail trade sector, while exports will rise because of more tourism activities and more bunkering activities. For 2019, a slight real GDP expansion of 0.4% is projected supported mainly by private investment growth in the hotels & restaurants, transportation, and utilities sectors.
May I, to begin with, express my personal appreciation to the Board of Directors of the IOIB and the SBI team for having successfully met the various challenges that confronted them at the time of the take over of the bank last year.