World Economy

Mauritius to Grow 4%

Mauritius to Grow 4%Mauritius to Grow 4%

Mauritius economy is expected to expand by about 4% next year and inflation is likely to remain stable, the International Monetary Fund said on Wednesday, Reuters reported. Mauro Mecagni, the IMF mission director for Mauritius, said inflation would be below 3% in 2016. The country’s central bank in November forecast Mauritius’ economy would expand by 4.2% in 2016. Meanwhile, the Minister of Finance and Economic Development Vishnu Lutchmeenaraidoo recently outlined the new economic vision for the country during a working session held in Port Louis with a delegation of the IMF in the context of the 2015 Article IV Consultations. Lutchmeenaraidoo presented the country’s new economic strategy to the IMF Mission Director for Mauritius Mauro Mecagni as outlined in the 2015-16 budget. He underpinned the new strategy aimed at instilling a new impetus to the economic activity in order to achieve full employment by 2018 and eventually help the country emerge from the mid-income trap.