17 March 2008
Port Louis — The International Monetary Fund (IMF) has reviewed the economic growth for 2007-2008 in Mauritius upwards compared to last year. Why?
According to the IMF mission, led by Paul Mathieu, the growth rate for 2007-2008 is of 7%, which corresponds to better results than last year. The IMF mission has based its conclusions on the increase in fiscal revenue and the number of jobs created in various sectors. This improvement is due to the quality and seriousness of the reforms started in 2006-2007.
What are the main positive aspects of the reform, according to the IMF?
The reform of the tax rate, at a flat 15%, is said to have contributed to the flow of foreign investors. The IMF also thinks that it has helped improve the environmental index of business in the country with the expansion of IRS projects, the development of tourism and jobs creation.
What about inflation?
Aware that the price rise is a world phenomenon, the IMF has recommended more competition in the supply chain and has insisted on the efforts suppliers should make to review their profit margins downwards and to be more careful in fixing their prices.
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