Government Role in the Economy
Since the beginning of the 1990s, Mauritania has embarked upon economic reforms intended to liberalize its economy and foreign trade and strengthen the legislative framework. The major reforms focused on: liberalizing prices and eliminating barriers to international trade, liberalization of the exchange regime; stabilizing the financial sector; gradual privatization of State enterprises; and fiscal, customs and judicial reforms. The structural reforms have laid the bases for sustained economic development and have decisively improved the business climate in Mauritania.
These reforms, together with prudent macro-economic policies and foreign support, have allowed Mauritania to register a steady GDP growth, a modest level of inflation, and a marked improvement in public finance and the balance-of-payments.
Mauritania's trade regime has been reformed over the past years, with the objective of eliminating barriers to international trade and enhancing the competitiveness of Mauritania's exports. Customs procedures have been simplified and the majority of customs duties rationalized, while most non-tariff measures have been abolished.