New Direction at the Crossroad
Mauritius Budget 2015 Highlights
The first National Budget of the newly elected Government was presented by the Minister of Finance and Economic Development, Mr Vishnu Lutchmeenaraidoo on 23 March 2015. The Budget intends to achieve an ambitious target GDP growth rate of 5.7% for 2016/2017 through greater investments and incentives to priority sectors.
The new government has unveiled its first budget in line with its electoral promises, set out a vision to increase prosperity, and established a base for greater equity and social justice. The measures outlined in the budget are designed to stimulate economic growth and employment in all sectors especially the SME sector. Whilst the budget has been described as a No-Tax budget, a number of positive measures have been included to simplify the tax system and provide incentives to promote economic development.
The government has laid out the foundation for the various stakeholders to take advantage of the opportunities and convert the vision into reality. However, the transition to a 5.7% GDP growth rate economy may be a challenge given the prevailing global economic environment.