During the month of November, the domestic economy maintained its measured pace of recovery, notwithstanding the ongoing spread of the Novel Coroniavirus (COVID-19). In this context, tourism output continued to improve, amid sustained gains in the high value-added air segment and the modest rise in sea traffic, as vaccination efforts progressed. Monetary developments were marked by a build up in bank liquidity, despite the reduction in domestic credit, trailing the contraction in the deposit base. However, external reserves decreased during the review month, reflective of the seasonal increase in foreign currency outflows through the public sector.
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