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Finance Minister expresses determination to implement budgetary measures

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07Sep

Finance Minister expresses determination to implement budgetary measures

The Minister of Finance and Economic Development, Mr Pravind Jugnauth, expressed determination to implement the 383 measures as enunciated in the budget speech 2016-2017 following the presentation of the Finance Bill in the National Assembly on 31 August 2016 which gives legal effect to the measures.

He was speaking this morning during a press conference in Port Louis with focus on budget implementation. According to the Minister, it is high time for action following the positive response of the population as a whole and the private sector regarding the measures in the budget. He appealed to the different Ministries/Departments to kick off their respective projects after the allocation of funds as approved in the Finance Bill.

The Finance Minister expressed optimism that the economy can attain the forecast GDP growth rate of 4.1 percent targeted for 2016/17 throughout the implementation of the projects earmarked in the 2016/2017 Budget geared towards moving Mauritius to the next level of development with focus on boosting investment and job creation.

To this effect, he announced the setting up of a Ministerial Committee under his Chairmanship to oversee and monitor the timely implementation of the measures announced in the 2016-2017 Budget. The first meeting of the Committee is scheduled for the 20th September.

The Committee will be assisted by three Task Forces that will ensure proper coordination, prompt implementation of the measures, rapid elimination of bottlenecks, enhanced service delivery of the public sector, and faster realisation of projects and programmes.

The three main areas of focus are namely: (i) Public Infrastructure Projects (Strategy 6)– Task Force chaired by the Minister of Public Infrastructure and Land Transport; (ii) Quality of Life and Poverty Alleviation (Strategy 7,8) – Task Force chaired by the Minister of Education and Human Resources, Tertiary Education and Scientific Research; and (iii) Economy (strategy 1-5)- Task Force chaired by the Minister of Agro-Industry and Food Security.

In the same vein, a High Level Committee, chaired by the Minister of Social Security, National Solidarity and Reform Institutions, has also been set up to look into the issue of Ageing Population and the Pension System.

Finance Minister Pravind Jugnauth, highlighted the importance of the Committee and the three Task Force which he said will meet at regular intervals to monitor the progress achieved with regards to major project implementation.

It will be recalled that the 2016/17 Budget amounts to Rs 117.4 billion, of which Rs 103.3 billion for recurrent expenditure and Rs 14.1 billion for capital expenditure.

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