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Tuesday, 07 September 2010

Mauritius gets 30 mln euro EU grant to aid growth

The European Union (EU) said it had handed Mauritius a 30.2 million euro grant in direct budgetary assistance to help the Indian Ocean island's reforms towards becoming a high growth economy.
The disbursement, the first tranche of the EU's 2010-2012 budget support programme worth 100.74 million euros, signalled the EU's confidence in Mauritius's economic reforms, said Alessandro Mariani, the EU's ambassador to Mauritius."The government of Mauritius has maintained good progress in implementing its economic reform programme, in maintaining a policy of macroeconomic stability and in improving public finance management," Mariani said in a written statement.Since 2006, the island has embarked on a raft of reforms to slash red tape and lure foreign investors, while donors have praised its coordinated fiscal and monetary response to the global slowdown.Official government forecasts predict the almost $10 billion economy - consistently one of Africa's most prosperous and stable - will grow by 4.2 percent this year compared with an estimated 3.1 percent in 2009.

 Source: Africagoodnews.com