Even though Mauritania's real GrossDomestic Product (GDP) recorded an average growth rate of 4percent between 2005 and 2009, the country's economicgrowth remains unstable and vulnerable to external shocks.At the same time, the distribution of profits throughbenefit sharing continues to be very unequal. SinceMauritania's independence in November 28, 1960, it hasexperienced several periods of political and institutionalinstability that have strongly hampered its economic andsocial development. The impact of the recent economic andfinancial crisis on global demand and particularly on theprice of iron and copper in addition to the reduction in oilproduction highlight the urgent need to identify new incomegenerating sectors other than the traditional exploitationof natural resources. After the presidential elections ofJuly 2009, the government of Mauritania launched a programof reforms aimed at accelerating economic growth byimproving the institutional framework to reduce theconstraints on private sector development. To encourage thediversification of its production base, Mauritania mustaddress a lack of capacity in the electricity sector.Another significant challenge for the country is upgradingtransport infrastructure to improve nationalcompetitiveness, including opening up agriculturalproduction areas. The mining sector can increase itscontribution to the national economy in a framework oftransparency and the good management of the environmentwhile promoting mining exploitation that generates addedvalue and jobs. Finally, although Mauritania is at theembryonic stage of its petroleum experience, the sectorremains strategic.
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