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Saturday, December 2, 2023

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Inflation And Depreciation Of The Rupee Are Plaguing Our Economy, Said Arvin Boolell

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Arvin Boolell, argues for a “cost of living allowance” in response to the country’s economic situation. He made this proposition at a press conference on Friday morning. He stated that the rupee has been devaluated by more than 7% since January, and this has had an enormous impact. The leader of the Labour Party in the National Assembly believes that this devaluation has led to the “impoverishment of the population and social upheaval“. According to Dr. Arvin Boolell, there are two things which are plaguing our economy, namely inflation and the depreciation of the rupee. The Parliamentary Leader of the Labour Party commented on the current pre-budget exercise. He said that the GM cannot be allowed to fool the population. He was referring to a depreciation of over 7% of the rupee since January. For him, the Bank of Mauritius is not in distress, but in bankruptcy.

He also recalled that the report of the United Nations Office on Drugs and Crime, stated that drug use has increased by more than 35% since 2020 in the country.

Arvin Boolell also cited the case of the activist Bruneau Laurette and “his courage” to denounce all those involved in drug trafficking. In addition, he congratulated the magistrate Jade Ngan Chai King of the Court of Moka, for having done her work “without fear”.

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