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Budget slated for November 18
Written by Administrator Tuesday, 17 November 2009 00:19
As a renovation, the year 2010, the financial year will coincide with the calendar year.
The Minister said the next budget will be centered on five main themes for more economi c sustainability and social inclusion over the long run: investment in infrastructure, broadening the circle of opportunities, creating new poles of economic growth, eradication of poverty with emphasis on Corporate Social Responsibility and sharing the benefits of the growth.
The worst is behind us and the world is now coming out of the doldrums. The upturn will be sluggish and we need to nurture growth, consolidate the economy and diversify the economic base», Sithanen stated.
He emphasized that Mauritius has contained the crisis remarkably well by keeping the economy resilient.
This has been made possible by sustained economic reform, better coordination between monetary and fiscal policies, proactive measures adopted in the 2008/2009 budget and the additional stimulus package to subsidize and compensate the decrease in demand of the private sector», the Minister added.
Commenting on the economy, Sithanen estimated that growth will be at 2.7 per cent in 2009 despite the economic downturn whilst investment to lie at 25.6 per cent of the Gross Domestic Product (GDP) as compared to 24.6 per cent in 2008 and a decrease in inflation.
