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Mauritian Finance Minister Defends Additional Stimulus Package,
by Ulrika Lomas, Tax-News.com, Brussels
Tuesday, May 12, 2009
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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