MEFD April 2022

Published: Monday May 30th, 2022

The domestic economy was further recovered during the month of April, amid ongoing international adjustments to the Novel Coronavirus (COVID-19). Tourism output continued to strengthen, undergirded by improvements in the high value-added air segment and a notable rise in sea traffic, as vaccination efforts progressed and COVID-19 restrictions eased in some of the major source markets. Monetary developments for the month of April revealed an expansion in bank liquidity, as the growth in the deposit base contrasted with the decline in domestic credit. Further, external reserves increased during the review month, supported by net foreign currency inflows from real sector activities.

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