Mauritius is aiming for zero unemployment within seven years, down from the current rate of 9.1 percent, the finance ministry said on Thursday. Once a high-growth African economy, the Indian Ocean island nation faces mounting oil prices and the loss of trade preferences on its key sugar and textile exports.
"We are aiming for zero unemployment in seven years through local investment and foreign direct investment," finance ministry spokesman Clifford Vellien told Reuters by telephone.
In comments reported by the local L'Express newspaper on Thursday, Finance Minister Rama Sithanen said that would require an annual growth rate of seven percent and dedication to tough reforms aimed at diversifying the economy.
"For Mauritius to aim for zero unemployment is certainly ambitious, but there's nothing to suggest it can't be done," Razia Khan, head of African research at Standard Chartered in London, told Reuters. "Of course we would need to see a lot more growth."