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African Economic Outlook 2013

Structural Transformation and Natural Resources

image of African Economic Outlook 2013

The African Economic Outlook is the only annual report that monitors in detail the economic performance of 53 individual countries on the continent, using a strictly comparable analytical framework.

The focus of the 2013 edition if structural transformation and natural resources in Africa. This edition draws lessons from Africa and elsewhere on how to accelerate structural change and amplify the positive force of natural resources. The report also features and overview of Africa's performance and prospects, country notes and a rich statistical annex.

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Mauritius

OECD Development Centre

The Mauritian economy has remained resilient in spite of the recession in the euro area that has weakened its external demand. At 3.3% in 2012, the real GDP growth rate remained positive although it continues to ease after growth rates of 3.8% and 4.2% in 2011 and 2010 respectively. Growth was anchored by strong performances in the financial services, information and communications technology (ICT) and seafood sectors. The 2013 outlook is positive, but may be tempered by downside risks if external demand remains timid. Growth is projected at 3.8% and 4.2% for 2013 and 2014, respectively, driven by continued expansion in the financial services, ICT and seafood sectors. The Cost Price Index (CPI) inflation steadily declined from 6.5% in 2011 to 4.1% in 2012 as the base effects were absorbed and global prices trended downward. As risks to growth outweighed price stability challenges the Key Repo Rate (KRR) was cut by 50 basis points to 4.9% in March 2012.

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