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REPORT OF THE PRESIDENT
According to estimates of the CBCS, the monetary union of Curaçao and Sint Maarten has experienced moderate growth in 2021 following an unprecedented contraction in 2020 caused by the COVID-19 pandemic. During 2021, real GDP grew by 4.0% in Sint Maarten, while Curaçao recorded a smaller expansion of 1.7% as the country went into a 6-week lockdown in March–April 2021 due to a surge in COVID-19 cases. The current growth estimates for the monetary union for 2021 are predicated primarily on continuation of a strong rebound in stay-over tourism, which started in the second quarter of 2021. Still, stay-over tourism has remained below pre-pandemic levels.