Mauritius: Public-Private Joint Committee - Minister Padayachy Stresses the Need to Continue to Boost Economic Growth

While Mauritius continues to witness improvements in its economic growth rate, there is a need to keep striving to enhance the economic outlook of the country. Economic, social and ecological resilience are, in fact, three inextricably intertwined factors critical in stirring the comprehensive economic development of the country.

This was the crux of the statement made by the Minister of Finance, Economic Planning and Development, Dr Renganaden Padayachy, this evening, following the eighth Public-Private Joint Committee held, at the Docks, in Port Louis.

The event, organised by the Maurice Stratégie and the Economic Development Board (EDB), in close collaboration with the Ministry of Finance, Economic Planning and Development, was an opportunity for stakeholders in the business climate to engage in meaningful deliberations, with the Finance Minister, on bolstering the economic landscape of the country.

The Financial Secretary, Mr Dharam Dev Manraj; the Chief Executive Officer, EDB, Mr Ken Poonoosamy; the Vice-Chairman, EDB, Mr Issa Soormally; the Director, Maurice Stratégie, Mr Sanroy Seechurn; and other personalities were also in attendance.

Minister Padayachy indicated that the meeting was characterised by discussions appertaining to the current occurrences in the economic environment in Mauritius. Consequently, he took note of the detailed proposals of numerous associations and business operators. He added that all these suggestions actually pinpoint to a shared common vision, which is the progress of the country.

Dwelling upon the recent unprecedented COVID-19 crisis and the diverse measures put in place to address it, Dr Padayachy underpinned the imperativeness for the incorporation of the human development dimension in terms of reducing inequalities and improving working conditions, in fostering economic growth.

Speaking of the International Monetary Fund forecasts in 2024, Dr Padayachy stated that the Gross Domestic Product (GDP) growth is projected at 4.9%. He added that the aim of Government is, nonetheless, to surpass 6% this year and a presentation entitled 'Achieving a GDP growth of 6.5%', was delivered by the Maurice Stratégie during the meeting. Hence, he pointed out that the potential promoting factors and obstacles were at the fore of the discussions. The necessary improvements will be, accordingly, included in the forthcoming 2024-2025 budget, he averred.

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