Mauritius looks for more growth in 2017

6 July 2017

Mauritius has unveiled its budget for 2017/18 in a speech on 8 June by Pravind Jugnauth, who serves as both prime minister and finance minister. He reported economic growth over the past 12 months and predicted further growth, including the reduction of the fiscal deficit. The last year brought a growth rate of 3.9%, up from 3.2% in 2015/16 and Jugnauth predicted that it would rise to 4.1% this year. He also reported a 7.3% drop in unemployment last year, and inflation at 1%, while 5.7% growth in private investment was the first such year of positive growth since 2012.

The son of three-time prime minister and former president Sir Anerood Jugnauth also predicted that the fiscal deficit would fall to 3.2% of the gross domestic product (GDP), from 3.5% in 2016/17. Setting out his plans for the next year, he said: “We should not rest on our laurels.” The prime minister announced the aim of making Mauritius a high-income country by 2023, which as of 2015 the World Bank defines as a per capita income of over USD 12,475. Mauritians currently earn USD 9,740 and Jugnauth has targeted USD 13,600 by 2023.

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