IMF lowers 2023 Mauritius’ growth forecast, but increases that of inflation

The International Monetary Fund (IMF) has lowered its growth forecast for Mauritius, but reviewed upwards that on inflation.

Citing the IMF’s latest global economic outlook, Defi Media reported that Mauritius’ growth this year is expected to be 4.6% against an initial anticipation of 5.4%.

As for inflation, the IMF fears that the rate will be higher this year, at 9.5% compared to previous forecasts of 6.1%.

Shaktee Ramtohul, Chartered Accountant and Business Consultant, was cited as attributing the revised forecasts to the depreciation of the rupee and the struggle to attract investment in sectors other than real estate.

Roshaan Kulpoo, an expert in financial inclusion, said he fears that Mauritius will have to gear up for a further increase in the Repo rate.

Source: Defi Media