Minister Padayachy to Invite Global Experts to Help Local Economy

Finance Minister Renganaden Padayachy has revealed plans to engage international experts to boost Mauritius’ economy while preserving its ecological and social integrity.

Speaking during the opening session of the Bank of Mauritius Advisory Committee, Padayachy highlighted the nation’s economic performance, with 2022 GDP growth rates reaching 8.8% and 9.8% after initial estimates of 7.2% and 7.9%.

The IMF also revised upward Mauritius’ 2022 GDP growth by +36%, reaching 8.3%. For 2023, the country aims for a 7.3% economic growth, supported by substantial investments and exports.

The central bank has raised its GDP growth forecast for 2023 to a range of 6.5% to 7.5%.

In the medium term, the government aims for sustained 5% GDP growth to continue fiscal consolidation and reduce the Public Debt/GDP ratio, currently at 79.2%, below the 60% threshold.

Harvesh Seegolam, Governor of the Bank of Mauritius, confirmed a strong demand for additional imports as the rupee continues to appreciate, stating that the trend is expected to persist.

Source: Defi Media