MEFD February 2022

Published: Monday April 4th, 2022

During February, indications are that the domestic economy sustained its modest growth momentum, amid continued adjustments to the Novel Coronavirus (COVID-19) and the emergence of new strains. Tourism output continued to strengthen, underpinned by further improvements in the high value-added air segment and the recovery in sea traffic, in further response to vaccination efforts and easing COVID19 conditions in major source markets. Monetary developments registered a build-up in bank liquidity, as the expansion in the deposit base outweighed the growth in domestic credit. Similarly, external reserves increased during the review month, reflective of the rise in net foreign currency inflows through the private sector.

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