Wednesday, January 6, 2010

Tens of Billions of FDI Later, Jobless Rate Still in Double Digits

Unemployment is expected to have ended 2009 at 10.8% up by 0.4% from its level of a year before. That's kind of strange given that Mauritius received more than Rs6 billion in the first three quarters of last year. And that followed two years of Rs11 billion each.

In fact the jobless rate has stayed above 10% over the past 4.5 years. That's very surprising because the Rs40 billion FDI that has poured into Mauritius over that period is a massive amount which even under a mediocre type of economic management should have pulled down the unemployment rate much closer to the ground and made everyone richer.

Nothing of the sort happened: the poor got hit with record inflation and the savings rate is at a 30-year low.


citoyenne desesperee said...

beggars can't be choosers

politics politicians and political meetings. 3p's.
ordinary citizens like me are not interested in terms of millions or billions, or reserved money or any big talks. we are much concerned about the smooth running of economy and the overall aspects of our country- social degradation has turned to a rise. etc. they are no less than
marchands bazar or beggars in the street of rose hill

Sanjay Jagatsingh said...

You can also look at this at a very basic level: how come we get all this money and things don't improve for the common woman?