Domestic debt was mostly in treasury bills. With a low ratio of tax revenues to GDP, Madagascar may need to focus on increased mobilization of public revenues to support the financing of economic recovery and to preserve the long-term sustainability of its debt.
Skip to main content. Outlook and risks If the pandemic subsides during the first half of , the outlook is favorable for a return to growth, with real GDP projected to grow 3.
African Economic Outlook Chromite, graphite, and mica are exported along with gems such as topaz, garnets, and amethysts. Private mining interests have been invited to develop Madagascar's gold deposits, as well as ilmenite, zircon, rutile, nickel, platinum, and bauxite.
There has also been renewed interest in Madagascar's oil potential. Madagascar is rich in biodiversity, and many plants and animals found there exist nowhere else in the world.
Hence, ecotourism is a sector of the economy with great potential for development. Toggle navigation. Photo by: lio. Also read article about Madagascar from Wikipedia. User Contributions: 1. Its fast, easy, fun. This website was really good. Presidential elections were held peacefully in January , marking the first political alternation of power in Madagascar.
President Rajoelina won Some ministries were merged to improve the efficiency of public administration. The Malagasy government is finalizing its new Emergency Plan aimed at stimulating the economy and reducing poverty. Following a prolonged period of political instability and economic stagnation, growth accelerated over the last five years to reach an estimated 4. The return to constitutional order and peaceful political transition in the last elections was instrumental to this economic revival, as it contributed to restore investor confidence, reopen access to key export markets, reinstate flows of concessional financing, and encourage structural reforms.
The adverse economic, social, and fiscal impact of the COVID crisis will be very substantial in Global trade and travel disruptions as well as domestic containment measures are expected to result in a sharp deceleration in economic activity in , with gross domestic product GDP growth predicted to slow to 1. Vulnerable populations in urban areas are particularly exposed to economic hardship and poverty traps in these circumstances.
Higher fiscal revenues and a reduction in transfers to poorly performing state-owned enterprises mean that there are more resources available to deliver public services such as education, health and public infrastructures in rural areas.
Increased access to financial services will improve economic inclusion and allow the poor to benefit from growth. A special focus of this report explores the various aspects of financial inclusion in Madagascar. The country has one of the lowest rates of financial inclusion in Africa. It will also provide opportunities for greater access to credit to start or grow a business for those who previously were unable to do so.
A rapid expansion in mobile money is also offering opportunities to increase financial inclusion. As the country develops, the demand for mobile phones and the potential customer base to be served by a financial system also increases. The report highlights that a lack of available income to purchase a mobile phone does not necessarily present a barrier to using mobile money.
0コメント