Economic growth is estimated to have stagnated in 2015 at 3.2%, falling short of the minimum 5% target set in the National Development Plan to reduce poverty. This poor performance was the result of political uncertainties, limited progress in terms of governance, low investment in the social sectors and in infrastructure, energy shortages, a 40-day summer strike at Air Madagascar and an overall deterioration of the business environment. These factors were compounded by exogenous shocks, including drought in the south, floods in the north, lower mineral prices and weak growth in the country’s European Partner