The Mauritian economy probably grew 3% in 2009, a touch faster than
the initial forecast of 2.8% thanks to a better than expected fourth quarter,
according to the central bank’s chief economist. Economic analysts say the
island’s economy, worth almost $10 billion per year and consistently one of Africa’s strongest performers, has weathered the global
downturn better than expected.
“Given the marked improvement in economic activity in the final quarter of 2009
it is likely that the growth rate will be 3% instead of 2.8%,” Hemraz Jankee,
Bank of Mauritius’ chief economist, told Reuters.
Jankee attributed the improved performance to a resurgence in tourism and a
strong rebound in the construction sector during the quarter. He said the
growth rate for the final quarter of last year is likely to reach 5%, up from
3.9% during the corresponding period in 2008.
The economy is forecast to expand by 4.5% in 2010, driven by a recovery in key
export sectors like textiles. Earlier, Jankee told reporters the stance adopted
by the Monetary Policy Committee (MPC) should remain unchanged until growth
becomes self-sustaining.