Upbeat On The Economy

July 2007 | Economic Analysis

The peaceful transition of power to democratically elected President Sidi Mohamed Ould Chiekh Abdallahi in April 2007 has allowed the new government to concentrate on economic matters. This is sorely needed; despite GDP growth of 11.7% in 2006 the economy remains weak and overly dependent on faltering oil revenues. Indeed, problems in oil production led the economy to grow by less than its projected 14.1% in 2006, and we - in line with the IMF - expect 2007 to register a much lower 2.0%.

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