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Sunday, April 21, 2024

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Business Mauritius Finds Budget Very Balanced

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The executive members of Business Mauritius have taken a look at the 2023-2024 Budget in anticipation of a more detailed publication. According to most members, it’s a balanced budget. We appreciate the change in taxation which is becoming progressive and fairer, and which will be an incentive to work harder. The new provisions to facilitate the recruitment of foreign talent, essential for development, are much appreciated.

The budget has a strong social focus, as well as several measures advocated by the business community. It remains to be seen how employers will apply these measures. There are positive measures in favor of food security and support for the agricultural sector. Among the various measures outlined, those concerning renewable energy and electric vehicles particularly caught our attention. We believe they will give a boost to this sector. However, we were expecting more concrete details concerning the National Biomass Framework. As far as the African strategy is concerned, the Regional Feeder Vessel will improve maritime connectivity in Africa. In terms of employability, more young people and women will be encouraged to join the workforce.

Business Mauritius is delighted that the Minister of Finance has taken on board several of their recommendations.

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