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African Economic Outlook 2003

image of African Economic Outlook 2003

The African Economic Outlook is a joint project between the African Development Bank and the OECD Development Centre.  The project, initially funded by the EU, combines the expertise accumulated by the OECD and the knowledge of the African Development Bank on African economies. The objective is to review annually the recent economic situation and the short-term likely evolutions of selected African countries.  The Outlook is drawn from a country-by-country analysis based on a unique analytical design.  This common framework includes a forecasting exercise for the current and the following year using a simple macroeconomic model, together with an analysis of the social and political context.  It also contains a comparative synthesis of African country prospects.  A statistical appendix completes the volume.  Decision-makers and economists in African and OECD countries, both in the public and private sectors, aid agencies and investors will all find this volume of significant interest.

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Mauritius

OECD Development Centre

Mauritius can be considered one of the most successful stories in the context of the African continent. However, despite its remarkable performance, the country is facing severe economic challenges as the bases of its development are rapidly changing. Increasing labour costs in recent years have eroded the competitiveness of the textile industry, and preferential market access, which was critical for the development of the sugar sector and garment industry, will phase out over the next few years. The country operators – the public as well as the private sector - are aware of these structural changes and are showing a great deal of adaptability and creativity in facing the new challenges. Consequently, despite going through a difficult transition period, Mauritius is displaying relatively good economic performance. After the severe drought which had a major impact on the sugar sector in 1999, the economy rebounded and grew by 8.9 per cent in 2000 and 5.8 per cent in 2001…

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