Monthly Economic and Financial Developments (MEFD) February 2025

Published: Monday March 31st, 2025

During the month of February, indications are that the domestic economy’s expanded at a slower pace than in same period in 2024, as economic indicators continued to converge closer to their expected medium-term potential. Tourism momentum tempered, as the high value-added stopover segment remained under constrained accommodation capacity; albeit healthy gains persisted in the sea component. Monetary sector developments featured gains in the broad measure of banking sector liquidity, with incremental accumulation in the deposit base, contrasting with the reduction in domestic credit. Further, the growth in external reserves expanded––although seasonally moderated––underpinned by a slowdown in net foreign currency inflows through the private sector, combined with a rise in outflows via the public sector.

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