PORT LOUIS, June 8 Mauritius expects its fiscal
deficit to narrow in 2017/18 (July-June), while the economy is
predicted to grow 4.1 percent in the same period, up from 3.9
percent this year, the finance minister said in his budget
speech on Thursday.
The Indian Ocean island, which markets itself as a link
between Africa and Asia, is striving to move from an economy
mostly focused on sugar, textiles and tourism towards offshore
banking, business outsourcing, luxury real estate and medical
Finance minister Pravind Jugnauth, who is also the prime
minister, told parliament total public spending would be 127.7
billion rupees ($3.69 billion) up from 110.6 billion rupees in
2016/17, while revenues would rise to 112.2 billion rupees up
from 94.7 billion rupees.
Jugnauth said the government will allocate 18.8 billion
rupees for capital expenditure.
The fiscal deficit in 2017/18 would fall to 3.2 percent of
gross domestic product from 3.5 percent in the year ending June.
Mauritius expects economic growth of 3.8 percent to 4.0
percent this year from 3.5 percent last year.
($1 = 34.58 Mauritius rupees)
(Reporting by Jean Paul Arouff; Writing by George Obulutsa;
Editing by Toby Davis)