Budget Speech 2017
The Minister of Finance in his two-hour budget speech has stressed on cosmetics measures but did not come forward with a plan to simulate macro economic policies to induce investment, increase Growth Rate and the GDP and LOWER UNEMPLOYMENT RATE.
Our Current Account Deficit is Rs 19 Billion and no measure to narrow this deficit or even make our CA positive. Our Balance of Payments deficit related to goods increased from Rs 65 billion in 2015 to Rs 73 Billion in 2016 and no measure to reverse this situation.
Foreign Direct Investment fell from Rs 18.5 billion in 2014 to Rs. 9.7 Billion and Rs. 13.6 Billion respectively in 2015 and 2016 and NO measure to induce the FDI
We have an amount equivalent to 9.4% of GDP as deficit on Net exports of Goods and Services. When the Minister of Finance will realise that for a healthy economy, we should aim at having a positive value on our Net Exports of Goods and Services.
Exclusive of aircraft and marine vessels, Total investment growth oscillated at 2.7% in 2015 and 3.6% in 2016.
Growth in the Private sector investment was only at 6.2% in 2016, after a fall of 7.6% in 2015.
Excluding aircraft and marine vessels, public sector investment decreased by 3.2% in 2016
We have 42,400 unemployed people in Mauritius, out of which one-quarter are youth between the age of 18 to 24 yrs. Our Female unemployment rate is at 11.2%
All the economic indicators are unfavorable to our Country since this Government came to power and the situation has been stagnant year after year. Once again #PravindJugnauth and the MSM-ML failed in their enterprise. We need a New Government which can really bring measures to flourish our economy and ONLY the MMM can do it.
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June 09, 2017 at 12:20PM