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Madagascar Government Contracts Declined 20%, l’Express Says

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Jan. 4 (Bloomberg) -- Madagascar’s government contracts declined 20 percent from a year earlier in 2011 to 356.5 billion ariary ($160 million), l’Express de Madagascar reported on its website today, citing data from the procurement authority.

The drop is attributed to austerity measures by the government and lack of budgetary assistance, the Antananarivo-based newspaper said, citing unidentified economists.

Top African Stories: {AFTO <GO>} Most-Read African Stories: {MNI AFRICA <GO>}

To contact the reporter on this story: Kamlesh Bhuckory in Port Louis via Johannesburg at 1933 or gbell16@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net

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