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AfricaMoney | June 29, 2017

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Mauritius Finance Minister says island economy to shoot for 5.7% growth in 2015

Mauritius Finance Minister says island economy to shoot for 5.7% growth in 2015

Finance minister Vishnu Lutchmeenaraidoo underlined that the current growth rate of Mauritius is around 3% but he believes that the 5.7% goal is reachable if all Mauritians work hard, in tandem with the government and private sector operators. (Image: fr.africatime.com)

The government of Mauritius is shooting for a growth rate of 5.7% for the island economy in 2015, said the Minister of Finance and Economy, Vishnu Lutchmeenaraidoo, at the 25th Annual Dinner of the Mauritius Chamber of Commerce and Industry (MCCI).

Vishnu Lutchmeenaraidoo who was the guest of honour at the 25th Annual Dinner of the MCCI, went straight to the point by reassuring economic operators on the note that his government is there to support attractive returns to all those who are ready to take warranted risks.

The finance minister underlined the current growth rate of Mauritius is around 3% and for many years the country’s economic growth rate has been unable to exceed 5%. However, he believes that the 5.7% goal is reachable if all Mauritians work hard, in tandem with the government and private sector operators.

Lutchmeenaraidoo said that, needless to say, to achieve this ambitious growth target, other conditions such as social cohesion will be key factor to strengthen confidence in the country. Besides, more such measures will be taken to realise the new growth target.

He added moreover that a special bank would be set up to support small and medium enterprises (SMEs).

“This objective is well within our reach. Do not pay heed to the naysayers,” he asserted in his speech at the annual dinner of the MCCI, which gathered about 275 members at the Aventure du Sucre, Beau-Plan, Pamplemousses, last Friday evening.

The ambitious plan of the Minister to provide a growth spurt to the island economy was welcomed favourably by the private sector.

Moreover, Minister Lutchmeenaraidoo has given some hints as to what is in store in the upcoming budget.

“In this budget, I will have to ensure returns on investments that are easily made, and that too, the most attractive possible returns, so that investment is kick-started. And to reach this magic rate of 5.7% for 2015 we are going to make every effort to meet this target and hope that we can even manage to exceed it.”

Finally, the minister also asserted that his government is extremely encouraging towards entrepreneurship initiatives. He has issued an appeal to the private sector and economic operators to take warranted risks to grout the economy.

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