MEFD April 2023

Published: Tuesday May 30th, 2023

Preliminary economic indicators suggest that the domestic economy sustained its growth momentum, albeit at a moderated pace, as the recovery from the COVID-19 pandemic neared completion. Tourism output continued to register healthy growth, supported by gains in the high value-added air segment and sea traffic, as the demand for travel in key source markets was retained. In price developments, average consumer price inflation—as measured by changes in the average Retail Price Index (RPI) for The Bahamas—increased during the twelve months to March, 2023, attributedto the pass-through effects of higher prices on imported oil and other goods. Monetary trends for the month of April were marked by a slight reduction in bank liquidity, as the rise in domestic credit exceeded the increase in the deposit base.Further, the buildup in external reserves slowed, as inflows through the private sector moderated.

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