Despite recent criticism, Mauritius’s Deputy Prime Minister and Finance Minister Rama Sithanen remains confident that his economic stimulus plan, the Additional Stimulus Package (ASP), will provide the correct response to the current global economic crisis.
Designed to combat the effects of the financial crisis, the Additional Stimulus Package Bill was presented to Parliament by the Finance Minister during a second reading on April 7.
Defending his plan against fierce criticism from the Opposition, Sithanen steadfastly maintained that the measures would prove beneficial for the Mauritian economy.
The ASP will be worth in the region of MUR10.4bn (USD317m), the majority of which will be invested in public infrastructure.
According to Sithanen, the Mauritian government has already committed MUR3bn to the plan, and injected MUR400m into the national economy.
Adamant that the construction industry has a key role to play in job creation, the Minister confirmed that preparatory work for three new projects – worth in the region of MUR1bn – is already under way, and that work on the Goodlands Bypass, the Triolet Bypass and on the development of a new road from Pamplemousses to Grand-Baie should all be completed by March 2010.
Reporting that MUR500m has already been allocated to upgrading public infrastructure in the education, environment and health sectors, Sithanen explained that a similar amount would also be given to the local authorities in Rodrigues.
Revealing that the government has already allocated MUR400m to support 51 projects, the Finance Minister indicated that the setting up of the Manufacturing Adjustment and SME Development Fund would be fast-tracked, and confirmed that the Mechanism for Transitional Support is now able to assist companies facing current financial difficulties due to the crisis.
Another key priority for the government, Sithanen emphasised, is to raise the profile of Mauritius internationally. Consequently, one measure contained in the ASP is to increase the promotional budget of the Mauritius Tourism Protection Authority by MUR100m.
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