All these came on the back of a whole-of-government approach to pandemic recovery. Complementing the national government’s efforts, the central bank implemented its own COVIDresponse measures. We ensured adequate liquidity in the financial system and helped bolster domestic economic activity, Overall liquidity conditions thus continue to provide support for the economy.
The various liquidityeasing measures of the central bank have injected the equivalent of approximately $ 41.9 billion into the financial system. This is equivalent to about 11.3 percent of GDP. As the economy recovers, the central bank will scale back its extraordinary measures, guided by its outlook on inflation and growth, state of public health, and domestic and global risks to the economy.