Mauritius’ Inflation Forecast Hiked to 5.1% by IMF

The International Monetary Fund (IMF) remains steadfast in its predictions for Mauritius, forecasting a growth rate of 4.9% for the country this year, according to its World Economic Outlook April 2024 report released on Tuesday, April 16.

However, the IMF has revised its inflation projections upwards, now expecting a rate of 5.1% in 2024 compared to the initial estimate of 4.9%.

On a global scale, economic growth is stable and inflation is gradually returning to its target.

The IMF forecasts that global growth will remain at 3.2% in 2024 and 2025, the same pace as in 2023.

After that, it is expected to drop to 3.1% within five years, the lowest level recorded in several decades.

“Global inflation is expected to steadily decrease from 6.8% in 2023 to 5.9% in 2024, and then to 4.5% in 2025.

Advanced economies are expected to reach their target levels more quickly than emerging and developing countries.

Overall, inflation excluding energy and food is expected to slow down more gradually,” the IMF stated in its report.

Source: Defi Media