Since December last year, the Reserve Bank has approved over $ million of loans above the credit ceiling. Economic projection As you know, we project that the economy will fall by 2.5 percent this year. There are some important factors that will determine the final outcome. First, what happens to tourism is important. There are mixed signals coming from this important industry.
The latest visitor arrival figure shows a decline of around 7 percent in January compared to January the previous year. A survey we conducted recently of a few major hotels show a low occupancy rate of around 30 percent and not much higher going into their forward booking. The second factor is gold. The current forecast does not include any gold production.