Budget 2013: Xavier-Luc Duval Put On Resilience Of Mauritian Economy

Reassuring, optimistic and spruced up by the International Monetary Fund (IMF), which he announces a slight recovery in 2013, Xavier-Luc Duval, Vice Prime Minister and Minister of Finance, at a press conference on Tuesday 16 October 2012, expressed its commitment to work towards strengthening the resilience of the Mauritian economy has shown in 2012.

Supporting figures, the Minister of Finance has given reasons for the Mauritian public does not fall into pessimism fueled, he said, by the opposition. He showed that the performance achieved by the Mauritian economy on the growth front must be located in a context where many countries have had to revise downwards their growth forecasts for 2012.

He cited, among others, India and China. IMF projections for India and China are respectively increased from 7.5% to 4.9% and from 9% to 7.8%. "The Seychelles and Maldives have seen projecting growth rate revised downward. In the first case, it rose from 4.4% to 3%. In the second, it increased from 4.6% to 1.5%. In September last year, the IMF had predicted 4.1% growth for Mauritius. In October this year, the IMF has revised our growth rate to 3.4%. There is no reason to autoflageller. Moody's has revised upwards its rating in terms of Mauritius while the company has lowered the credit rating of South Africa. They are wrong who foresaw the emergence of an economic tsunami, "said Xavier-Luc Duval.

As for the 2013 budget, it will focus on five pillars. They are maintaining a rigorous management of macroeconomic fundamentals that gave positive results in 2012 with, among others, a revision upward of Moody's deployment efforts required to support growth (3.3% in 2012 ) and employment continuing the current policy of the state investment in a period of sluggish economic strengthening the defense policy of the most vulnerable and improving the quality of service in the public sector. Small picnic monetary policy, Xavier Luc Duval stated that "the misalignment of the rupee cost us a point of growth."