Mauritius Expects 7% GDP Growth in 2023 Despite Covid-19 Setbacks

During the 10th anniversary celebrations of Made in Moris brand, Minister of Finance Renganaden Padayachy revealed that Mauritius is forecasting GDP growth of 7% for 2023, with the manufacturing sector continuing to become a significant contributor to the country’s overall performance.

Padayachy stated that this growth demonstrates the strength and resilience of Mauritius, which has managed to recover from the devastating effects of Covid-19 in just two or three years.

The minister also pointed to supportive policies that have aided sectors, companies, and workers in facilitating a strong recovery from the crisis.

He also touched on salary compensation, noting that the government is working on a fair and reflective policy that will improve working conditions for employees, and accommodate businesses facing financial challenges.

The government intends to implement a figure that allows almost all companies to improve their employees’ living conditions, he said.

Minister Padayachy also discussed the recent flood situation in several regions, noting that there are already numerous aids planned and that the Prime Minister’s Relief Fund is mandated to manage such situations.

The minister also mentioned that measures have been adopted concerning drainage and land reclamation, and authorities are actively looking at direct aid to help those individuals and families impacted.

Source: Defi Media