This modus operandi gave us added flexibility and enabled us to react faster and to act pre-emptively and thus contributed to maintain a fair degree of stability and confidence in the economy. Our economy grew at a rate of 3.9 per cent in 2011, a commendable performance when viewed in the context of the sharp global economic downturn.
Most of the key sectors of the economy recorded positive growth rates. At a time, when most countries have been seeing their ratings downgraded, Moody’s Investors Service upgraded Mauritius’s foreignand local-currency government bond ratings to Baa1 from Baa2, with a stable rating outlook in June 2012. Inflation was on a declining trend and the rate of unemployment remained virtually unchanged.