During a recent press conference, Mauritius’s Deputy Prime Minister and Finance Minister Rama Sithanen announced that an interim budget, to be set forth on May 22, 2009, will focus on job protection and creation, and on investment in infrastructure, in a further bid by the government to combat the effects of the continuing global economic crisis.
According to Sithanen, the May budget will also enable the government to assess the full impact of its “Additional Stimulus Package”, presented to Parliament in December of last year, and specifically designed to support the country’s most vulnerable sectors, including its tourism industry and export-dependent textile industry.
Despite the introduction of vital support measures, however, both industries nevertheless registered a contraction of 8% and 7% respectively in the first two months of this year. Other sectors of the country’s economy, including the financial sector and direct foreign investment, continue to fare well, Sithanen stated.
The Minister has also revealed that a second budget will be announced in November, following careful evaluation of the progress of the international financial downturn, and its subsequent effects on Mauritius.
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