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EIU Reports On Mauritius Government's Economic Strategy

Amanda Banks, Tax-news.com, London

25 January 2001

The Panafrican News agency has revealed the results of a report by the British Economic Intelligence Unit (EIU) in which it comments on the Mauritian government's strategy to cope with the economic difficulties that the administration inherited last year.

Released this week, the EIU report deals with the political and economic activities of Mauritius during the past three months.

According to the report, the budget deficit for this year may reach around 3.1 percent of Gross Domestic Product. The EIU however comes to the conclusion that Mauritius could reach 6 per cent economic growth and establish a conducive environment for foreign investment as long as it maintains its inflation rate. The report stated: 'Economic reforms will be essential during the forecast period to address the structural weaknesses which the government has so far managed to ignore, having enjoyed preferential access to foreign markets and having relied on the depreciation of the rupee to safeguard export competitiveness ... the government led by Sir Anerood Jugnauth should introduce a series of reforms to improve competitiveness, attract foreign investments and control the budget deficit.'

Since Anerood Jugnauth became Prime Minister last September he has pledged that Mauritius will become a free trade zone for the IT industry and will promote the island as a leading regional e-commerce hub, which should be a major attraction for foreign business and investment.

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