This Government aspires to usher in a new socioeconomic paradigm anchored in the principles of meritocracy, efficient economy and social justice, which is underpinned by the resolve of extending support to the most vulnerable and providing equal opportunity for all.
The Prime Minister, Minister of Defence, Home Affairs and External Communications, Minister of Finance, and Minister for Rodrigues and Outer Islands, Dr Navinchandra Ramgoolam, made this statement this afternoon as he launched the Budget 2025-26 consultations, at the Sir Harilall Vaghjee Hall, in Port-Louis.
The Junior Minister of Finance, Mr Dhaneshwar Damry and other eminent personalities were also present on the occasion.
All stakeholders, including representatives of Business and Trade Associations, Professional Bodies, Trade Unions, Non-Governmental Organisations and Civil Society Organisations were convened for the launching ceremony.
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In his address, Prime Minister Ramgoolam underlined that it is crucial for all stakeholders present to fully grasp and take into account of the prevailing economic situation ahead of the budgetary consultations.
'We have inherited a dire and unsustainable economic situation, with a total Government debt of Rs 644 billion reaching nearly 90% of the country's GDP', deplored the State Leader.
Furthermore, the Prime Minister highlighted that the country faces the imminent risk of an eventual lowering of its Moody's ratings, which he warned would have had significant negative on investments and other ripple effects. He however reassured that Moody's has agreed for Mauritius to retain its ratings upon the negotiations of a dedicated team to undertake the necessary rigorous measures to improve the situation, adding that the country is still under Moody's surveillance.
Reiterating Government's prime aim, that is to fix and reconstruct the socioeconomic situation of the country, the Prime Minister emphasised the urgency to act against this unprecedented situation so that the future generation do not have to bear its consequences.
On that score, Dr Ramgoolam announced the reintroduction of performance-based budgeting for each Ministry, which he stated will ensure that they all become accountable, and reassured that his Office will effect a close monitoring.
PM Ramgoolam urged for the cooperation of all stakeholders during the Budget Consultations and made an appeal for all related activities to be held in discipline.
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Besides, aligned with the overarching objectives of reconstructing the economy and restoring good governance, Prime Minister Ramgoolam listed his key priorities. These include: roll out corrective actions and measures against any misuse of Government funds; eliminate red tape in the public sector; and boost profit-making and income-generating sectors such as tourism and export.
