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Significance
Clouding the outlook further, public debt remains close to its 2021 peak of 96.2% of GDP and tourism has been slow to recover. Meanwhile, the World Bank has warned that the country should reduce public debt to at least 60% of GDP.
Impacts
Mauritius will struggle to recover its high income per capita status, which it attained in 2020 and subsequently lost.
Public spending on pensions is set to rise above 8% of GDP in 2023-24 and will be an increasing drag on the budget as the population ages.
Growth prospects will depend on leveraging existing advantages in infrastructure, internet and education for economic diversification.
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2022
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