Economic Intelligence Unit claims 5.5% growth ‘too optimistic’

The Economic Intelligence Unit (EIU) has reportedly contradicted the 5.5% growth forecast of the Bank of Mauritius (BoM) for 2021.

The EIU was cited by Defi Media as stating that while the BoM is expecting a rise in the economic activities of the island mostly triggered by the ongoing vaccination programme and the re-opening of the borders, the 5.5% economic growth will not be attained.

The EIU said that the revenue shortfall from the tourism industry over the past two years and the significant decline in economic activities recorded for the first quarter of 2021, down by 8.4% as compared to the same period last year, will have a negative effect on the economic growth for the year.