GIS - 04 June, 2020: The priority of Budget 2020/2021 is to shore up the Mauritian economy amid the Covid-19 pandemic, which is an unprecedented situation that has never been witnessed. The Budget, based on the values of solidarity and sharing, seeks to maintain an equilibrium while ensuring the development of the country, promoting the welfare of the population, catering for vulnerable people of the social ladder and preserving employment.
The Prime Minister, Mr Pravind Jugnauth made this statement, this evening, in a joint-press statement together with the Minister of Finance, Economic Planning and Development, Dr Renganaden Padayachy, following the presentation of the Budget 2020/2021 in Port Louis.
The Covid-19, the Prime Minister pointed out, has negatively impacted on the economy both locally and internationally. Government, he said, has come up with bold measures so as to give a new thrust to all sectors, in particular the tourism sector which has been affected. However, he pointed out that the country has been able to manage the situation and contain the virus.
Prime Minister Jugnauth recalled that half of the world population has gone through lockdown which has resulted in a decrease in economic growth globally. Hence, the need to re-adjust the economic model said the Prime Minister.
He further indicated that Budget 2020/2021 makes provisions for small and medium enterprises while emphasising on the need to boost local production of food. The decrease in the purchasing power in the wake of the Covid-19 pandemic was also highlighted by Prime Minister Jugnauth.
The Minister of Finance, Economic Planning and Development, Dr Renganaden Padayachy, spoke of the imperative to review strategies and priorities in the face of this global crisis and the need to come up with new projects that will help to boost the Mauritian economy.
The budget, he said, is in line with Government's vision to give a new impetus to most affected sectors such as agriculture and tourism. It also aims to improve the quality of life of citizens and respond to needs of the most vulnerable, he added.
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