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Country Profiles

Mauritius - Economy

Whitaker's Almanack Version

Financial Outlook

In the 2014 budget, announced in November 2013, Xavier-Luc Duval, Vice Prime Minister and Minister of Finance and Economic Development, said that growth for 2013 was expected to be 3.2%, with inflation down to 3.6% and a public sector debt to GDP ratio of 54.8%. The budget deficit for 2014 will be 3.6%, but the government is on track toward fiscal balance, he said. Unemployment is 8.3%, but all sectors other than construction showed improvement through 2013, and Mauritius’ foreign exchange reserves stand at a healthy 27.6% of GDP. The external current account deficit has been reduced to 9.9% of GDP and there is a surplus in the overall balance of payments of 16.8 billion Mauritian rupees (approximately US$560 million). The value of shares traded on the island’s stock exchange grew by 18% up to November 2013 from the beginning of 2013. In 2014 the government will be looking to build a marine services platform to exploit the country’s 2.3 million square kilometer maritime zone. This will specialize in bunker facilities and ship handling, repair, and maintenance as a second pillar to the economy to stand alongside tourism and the aviation and petroleum hubs that are being developed.

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Statistics

GDP growth: 4.1% (IMF, 2011)

GDP per capita: US$14,000 (2010 est.)

CPI: 5.75% (IMF, 2011 est.)

Key interest rate: n/a

Exchange rate versus US dollar: R30.991 (2010)*

Unemployment: 7.5% (official, 2010)

FDI: n/a

Current account deficit/surplus: −US$949 million (2010 est.)

Population: 1,303,717 (July 2011 est.)

* Mauritian rupee

Source: CIA World Factbook except where stated

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Further reading on Mauritius

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