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Growth of 4.4% for 2018 expected by MCCI

According to recently released forecasts of the Mauritius Chamber of Commerce and Industry (MCCI), economic perspectives for Mauritius should see an improvement next year. Indeed, the Mauritian economy is expected to see a growth of 4.4% in 2018. The Chamber also maintains its estimated real GDP growth at around 4% for the current year.

 

The MCCI observes that after a slow-down between 2012 and 2015, there has been a turn-around since mid-2016, with investment picking up at both the global and private levels. This positive evolution should be maintained in 2017 and 2018.

 

The country’s employment sector is also expected to see improvements next year, with the unemployment rate lowering to an estimated 6.8%, which would be the lowest since 1994. This will have a positive impact on consumption and domestic demand.

 

The MCCI further comments that the increase in demand, the favourable international situation and as an accompanying monetary policy, coupled with fiscal reforms to encourage the emergence of new sectors of activity and the improvement of the business climate, are indeed very favourable signs for the island nation’s economy. The inflation rate is expected to be maintained at around 3.8%, which is reasonable for an emerging country.

 

MCCI observes that global economic prospects appear to be improving, as shown in a recent report by the International Monetary Fund, which anticipates a strengthening in the world economy in 2017 and 2018. World economy is expected see a growth of 3.7% in 2018, the highest since the beginning of the debt crisis in the euro zone. 

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