Global risks to outlook remain.

WILLEMSTAD/PHILIPSBURG:— “The economic recovery gathered pace across the monetary union in 2022 with real GDP expanding by 7.9% in Curaçao and 9.8% in Sint Maarten,” stated the President of the Centrale Bank van Curaçao en Sint Maarten (CBCS), Richard Doornbosch, in CBCS’s Economic Bulletin June 2023. “In both countries, growth was driven primarily by an increase in net foreign demand, along with a positive contribution from domestic demand. Net foreign demand rose in real terms sustained by a sharp increase in …