(Bloomberg) -- Madagascar, the world's biggest producer of vanilla, is forecast to grow its economy by 5.4% next year as the pandemic eases, borders are reopened, and public investments and confidence improves, L'Express de Madagascar newspaper reported, citing the finance bill submitted to the national assembly.
This year's growth estimate has been cut to 3.5% from an initial forecast of 4.3% due to the second wave of the Covid-19 pandemic that hit the Indian Ocean island nation during the second quarter, according to the report.
The budget deficit is seen narrowing to 6.1% of GDP next year from 6.6% in 2021, the newspaper reported. Inflation is forecast at 7% compared with 6.4% this year.
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