Government, private sector hold talks on upcoming 2022/2023 budget

The impact of the invasion of Ukraine by Russia is reportedly of growing concern. Finance Minister Renganaden Padayachy, who met the private sector to discuss the upcoming 2022/2023 budget, he reportedly recognised that “the war in Ukraine will have major consequences.”

However, he called for the engagement and support of the private sector to speed up the island’s post-Covid economic recovery.

“We are here to prepare for this acceleration of this recovery”, Padayachy was quoted as saying during the working session of the Public-Private Joint Committee.

Kevin Ramkaloan, Chief Executive of Business Mauritius, co-chairman of the Economic Commission on Sectoral Development, was quoted by l’Express as indicating that seven pillars have been identified to ensure the economic development of the country.

They are: renewable energy, the circular economy, the pharmaceutical manufacturing sector, food security, the capacity development of SMEs, the ocean economy and the production of medical equipment.

Bruno Dubarry, Chief Executive Officer of the Association of Mauritian Manufacturers, was cited as saying that Mauritius is at a transition period.

“It is about asking the right questions so that we have more than an economic recovery but sectors that develop differently and above all capable of diversifying further.”

The website of Ministry of Finance allows views and proposals from the private sector and the public.