Mauritius business confidence recovers in last quarter of

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PORT LOUIS Jan 29 A recovery in domestic demand buoyed business confidence in Mauritius during the last quarter of 2014 after declining over three consecutive quarters, a survey of leading private sector companies showed on Thursday. The Mauritius Chamber of Commerce and Industry's quarterly confidence index climbed 6.4 percent to 82.5 points. The Indian Ocean island's economy has slowly been recovering from the global financial crisis which hurt tourist arrivals, particularly from Europe. The economy grew 3.5 percent last year, up from 3.2 percent in 2013, Statistics Mauritius.

Chamber of commerce economist Renganaden Padayachy told a news conference that more than 60 percent of business leaders interviewed during the survey said they had noted an increase in demand during the last quarter.

Padayachy said the growth rate could rise further if the cost of doing business was reduced further in Mauritius.

"The growth rate can climb higher than 6 percent in the short to medium term if Mauritius takes appropriate actions with regard to cost of doing business," Padayachy said.