Port Louis- Mauritius cut its 2013 economic growth forecast to 3.3 percent from 3.5 percent, anticipating a contraction in the construction sector and slower growth in financial services and technology.
The building slump was down to the completion of major projects such as an airport development and the rescheduling of road, the island's statistics office said.
The central Bank of Mauritius earlier this month trimmed its key repo rate by 25 basis points to 4.65 percent to spur growth at a time inflation is relatively benign on the import-dependent Indian Ocean island.
Mauritius, one of Africa's most stable and prosperous countries, said the economy grew 3.7 percent in the first quarter of 2013 against 3.1 percent a year earlier.
The central bank has called growth this year “below trend”.
The statistics office said the construction sector would contract almost 8 percent this year after shrinking 3 percent in 2012.
Growth in technology would slow slightly to a projected 8.2 percent while the financial and insurance sector is expected to expand 5.5 percent compared with 5.7 percent in 2012. - Reuters