Mauritius GDP growth will be above 7% in 2022, says Finance Minister

Finance Minister Renganaden Padayachy considers Mauritius’ GDP growth will reach 7% in 2022 and above 5% in 2023, whereas exports of goods will reach Rs 100 billion in 2022.

Speaking at the inauguration of the Eastern and Southern African Trade and Development Bank Group (TDB Group) Principal Office in Ebene, Padayachy said Mauritius is in an “expansion phase” while many countries are facing a slowdown in economic activity, fearing or even entering a recession.

The Secretary General of COMESA, Ms Chileshe Kapwepwe; Finance Ministers and Governors of TDB Group; TDB Group President Emeritus and Managing Director, Mr Admassu Tadesse; the Governor of the Bank of Mauritius, Mr Harvesh Seegolam; were present at the event. Mauritius is hosting the 38th Annual General Meeting of the Board of Governors of the TDB Group.

Padayachy will be taking up the role of Chairperson of the Board of Governors, in line with the Board of Governors’ Rules of Procedure and the provisions of the TDB Charter.

Mauritius has been a Member State of TDB since 1991.

According to him, foreign direct investment will exceed Rs 20 billion in 2022 compared to Rs 15.4 billion in 2021.

This year, he added, the Mauritian economy will attain its pre-pandemic level, with a GDP of over Rs 500 billion “for the first time.”

Original article at GIS Mauritius