The Minister of Finance, Economic Planning and Development, Dr Renganaden Padayachy, chaired, yesterday, the Public-Private Sector Joint Committee, at the Hennessy Park Hotel in Ebène. This session focussed on the response of Government, citizens, and businesses to the COVID-19 pandemic.
The Chief Executive Officer of the Economic Development Board (EDB), Mr Ken Poonoosamy, and other representatives of the private sector as well as public institutions were present at the event, organised by the EDB in collaboration with the Ministry of Finance, Economic Planning and Development. The objective of the Joint Committee is to provide an effective and collaborative platform in view of addressing the challenges faced by the Mauritian economy and tapping into new opportunities.
In a statement following the meeting, Minister Padayachy highlighted that this Committee was set up so that Government works in collaboration with the private sector to tackle the different challenges resulting from the pandemic. The Committee, he pointed out, meets on a quarterly basis in a bid to take stock of the economic situation and decide on the way forward.
The Minister underlined that there was a need to listen to captains of the private sector following the presentation of Budget 2022-23 and find ways to support them in the economic recovery following the COVID-19 pandemic, while maintaining economic growth and confidence in our country.
Government, he stated, is anticipating a strong recovery in economic activities for year 2022. He indicated that the growth rate will be above 7%, the Gross Domestic Product will reach Rs 544 billion, and that exports are on the rise as compared to last year and 2019. Government must therefore support this economic recovery and make it sustainable in the medium and long terms, he added.
The finance minister nonetheless conceded that all sectors of the economy face challenges and informed that Government is working on each of them at the micro and macro level. According to him, the main challenge remains the high inflation rate.
He also recalled that 2020 was a horrible year for the Mauritian economy, during which Government had to take unconventional measures so as to keep the country’s economy afloat.
For his part, Mr Poonoosamy observed that this Committee has become a much-awaited event in the local economic calendar. He remarked that through this platform, public and private entities can work together and discuss the challenges that the current economic environment presents and find appropriate policy responses.
