(Bloomberg) --
The Mauritian economy is forecast to expand at a slower-than-expected pace of 5% this year with the recovery hinging on a revival in the tourism industry, according to the International Monetary Fund.
The sector, accounting for 63.1 billion rupees of foreign currency revenue in 2019, is yet to revive until international vaccination efforts spur herd immunity.
“As the country emerges from the pandemic, however, there is uncertainty about tourism flows, which depend on the propensity to travel as the pandemic recedes as well as conditions in other countries,” said head of mission Cemile Sancak in a statement after concluding the Article IV consultations with Mauritian stakeholders on May 7.
An Indian Ocean island nation of about 1.3 million people, Mauritius registered a contraction of about 15% in 2020, its worst performance in four decades. As of now, borders remain closed due to a second wave of the Covid-19 cases.
”Mauritius has been successful in containing the Covid-19 pandemic so far thanks to strict health measures,” Sancak said.
©2021 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
