Finance: The 2014 Budget Presented in Early November, According to Xavier-Luc Duval

Xavier-Luc Duval has confirmed this morning the presentation of Budget 2014 in the first week of November. Exercise, however, warned the Minister of Finance, will be "difficult" because of the "compelling economic environment" and the problems that some key sectors of the economy are facing, like those in the tourism and construction .

Asked after the signing ceremony at the headquarters of his ministry, an agreement between the Government of Mauritius and the PTA Bank - also known as a "development bank COMESA" (see below) - Xavier-Luc Duval said the formal presentation of the Budget for 2014 in early November preparations have already begun and will accelerate over the weeks. Grand treasurer announced a draft program of pre-budget discussions with various sectors is ready and it intends to adopt a different approach to that taken in the past. Objective: To listen to a very large number of associations.

The Deputy Prime Minister pointed out that the economic context in which the next budget is prepared "difficult" global economic conditions remain binding as the local economic, careful consideration is necessary because of the difficulties faced some sectors, like tourism and construction.The 2014 fiscal year is even more difficult if we take into account the implications of the report of the Pay Research Bureau (PRB), which says Xavier-Luc Duval, required an injection of around Rs 6 billion.

Giving a first indication of the strengths of the next budget, the Minister of Finance announced that for the third consecutive year, will focus on boosting growth through support for economic operators, the consolidation of the national unity - with key measures - and the promotion of a balanced sharing of wealth.Speaking specifically of the slowdown in the construction sector, the Deputy Prime Minister argues that this is "completely natural", several projects have already been completed while others are about to be made .

Furthermore, is it out, should be taken into account that we can "go too far" real estate development projects Integrated Resort Scheme or Real Estate Scheme, even shopping malls, because of considerations Environmental and space problems.Xavier-Luc Duval made it clear that, despite the decline in cement consumption (important indicator of the trend in the construction sector) since the beginning of 2013 compared to the volume used for the same period in 2012, the situation is better if compared to 2011. Grand treasurer also notes that the sale of villas and other properties under the IRS and RES projects remains on a positive note.

Citing the situation in other economic sectors, the Minister of Finance speaks favorably of good performance by those financial services and new technologies of information and communication.Asked about rising unemployment, Xavier-Luc Duval argues that the increase (8.3%) expected for 2013 is explained by the increase in the labor force.

"The labor force increases faster than the number of jobs created," he said, adding that jobs are created. "That is why the Ministry insists that priority be given to growth. "Especially, he said, that" inflation is not a major problem for the country at this time. " And to clarify: "We held this logic. "It has also referred to the high unemployment rate (23%) among young people and said that under the Youth Employment Program, about 2,000 young people have been hired.