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AfricaMoney | August 20, 2017

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Budget 2015-16 charts out right actions for sustainable future: Mauritius PM

Budget 2015-16 charts out right actions for sustainable future: Mauritius PM

Mauritius’ Budget 2015-16 has sown the seeds to put the island economy back on track to achieve superior growth rates as well as to develop an entrepreneurial culture for a more balanced and equitable society, where there is a fair chance of unleashing a new chapter in the democratisation process. (Image:marketing-mojo.com)

Mauritius’ Prime Minister Anerood Jugnauth stated that the 2015-16 Budget has “unveiled a series of measures, charting out the right actions to shape a more sustainable future and achieve our desired targets.”

According to him, the seeds have been sown for the growth of Mauritius, based on the promise of inclusive development, quality investments, equity, social justice, transparency and good governance.

The government has mapped out its economic plan by taking into consideration that higher growth will require increased investments and better productivity, where the recent budget lays the foundation for boosting quality investment to help in the emergence of new economic sectors.

PM Anerood Jugnauth emphasised that this Budget lays the foundation for a second economic miracle and looks at transforming Mauritius by creating jobs to solve the problem of high unemployment.

Mauritius is entering into its next logical phase of development where innovation will drive growth and development. In this phase, economic growth will have to be led by the private sector, and private sector collaboration is important to increase investment, as it will be an extremely challenging task for the government to invest in public infrastructure without seeking private sector participation.

The aims is to put the Mauritian economy back on track and to achieve a growth rate of over 5%. Catalyst forces have been taken into consideration to boost development in various economic sectors and the incentive for developing smart cities is essentially to promote knowledge-based industries that will help employees, businesses and the local economy to flourish.

‘Together with the techno-parks, we are looking at the development of thirteen employment-rich mega projects which would create the ambit for a new higher investment threshold in Mauritius and bring about a new wave of development with the utilisation of 7,000 arpents of land. We are talking here of the creation of thousands of new jobs, the development of a whole new value chain with respect to smart cities and techno-parks and unprecedented levels of investment’, the prime minister highlighted.

Finally, a dynamic and strong SME sector is an important pillar for sustainable economic development, and this is the reason why the government has put all necessary efforts into devising a strategy for enhancing an entrepreneurial culture in Mauritius.

These efforts will contribute largely in creating a more balanced and equitable society where there is a fair chance of unleashing a new chapter in the democratisation process.

 

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