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Mauritius economy to expand by 3.8 pct in 2016

Xinhua, February 18, 2016 Adjust font size:

The Mauritius' economy is expected to expand by 3.8 percent in 2016, Mauritius Commercial Bank said Wednesday.

This forecast, which is slightly lower than the bank's forecast in October 2015, is similar to that of Statistics Mauritius and the International Monetary Fund (IMF).

The bank explained that the forecast was due to deteriorating global economic prospects and the expected reduction in investments in Mauritius.

The bank said expansion of production will be slow in the first and second quarters of this year, although value addition will be slightly higher than initially forecasted in the fourth quarter.

According to the bank, inflation is projected at about 2.3 percent in 2016, down from a previous forecast of 3.3 percent. Enditem