Mauritius | Finances

March 25, 2014

Business Climate: Confidence Index Down

Of 88 points in 2013, this year, the business confidence index in the country has fall to 85, 3 points. Leaving understand that there is a weakness somewhere, noted in Renganaden Padayachy substance of the Mauritius Chamber of Commerce and Industry (MCCI) who presented the Business Confidence Indicator Monday, March 24.

And if the situation is not considered alarming, it is nevertheless worrying, especially since last year we had witnessed a renewed confidence. 

 "On the basis of the quarterly business survey, conducted between February 21 and March 14, 2014, we find that the confidence index of entrepreneurs declined 3.1 percent (2.7 points) and stands now at 85.3 points ", notes the report Business Confidence Indicator of the MCCI. Indicating that this decline is worrisome and reflects a clear gloom.

Negative rating factors for 10 of 14  

The data were composed from 14 determinants with the overall environment, internal demand, market competition, opportunities for expansion into new markets, exchange rates, the effective tax rate on companies, access to capital, the cost of capital, the costs of doing business, the late payment of their clients, staff turnover, the availability of skilled labor, public support for business, logistics and connectivity. And among these ten factors had a negative impact on business performance during the quarter. 

More than two-thirds of companies consulted leaders deplore the indiscriminate increase in indirect costs have greatly affected the conduct of business. They cite, among others, non-compliance with rules and standards, the difficulties of access to land, corruption, problems related to infrastructure or energy, water supply and transport . And take as an example the increase without any consultation of Trade Fees and Fees Advertisement. "For these entrepreneurs increases between 100 and 500 %t, are inconceivable in these difficult times, "says the report. 

Pike consumption has gone

Most importantly is the rate of growth in consumption has fallen since 2009. This rate increased by 6.5% on average over the pre-crisis period, 2004 to 2008, 2.5% on average over the post-crisis period, 2009-2013. So even the largesse granted during the Budget did not help to boost consumption. The consumer is cautious. 

This, even though the majority of traders stated that it maintained or decreased their price. But this time he would expect a slight rise in prices in the second quarter. 

Jobs: no recruitment

15% of respondents say they will reduce their workforce in the coming months, given the continuing decline in domestic demand and also the shortage of qualified market work. And 71% say they will recruit. 

Barriers to regional market

Most entrepreneurs regret not being able to access the regional market, particularly due to the high cost of tickets or cargo. Which prevents them from moving forward. These opportunities are inaccessible, they said. 

MCCI and warns that these are all trends that must be quickly reversed. "If this trend continues over the next few quarters, we can expect an increase in the number of unemployed in 2014." 

Thus, to find the path of strong and sustainable growth, consideration should be given to better ways to reinvigorate the various sectors of Mauritius, believes the MCCI. And Renganaden Padayachy prevent these measures must be immediate. 

The situation could become increasingly worrisome if this trend continues for the next six months.It would then investment will suffer, while already businessmen already feel the high interest rates. 

Do not wait for the Budget to take action

For MCCI, time is action. It should not, it warns, wait for the budget to identify a strategy for the growth rate will be affected. According to Renganaden Padayachy, if the second quarter the situation does not improve, "the growth rate will probably equal to that of 2013, if not less." 

As a reminder, the growth rate in 2013 was 3.2%, while the Finance Minister Xavier Duval, had to revise its estimate of 4%. 

 

Text by lexpress.mu
 

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