Mauritius to Vote on Additional Budget to Aid Battered Economy Read more at: https://www.bloombergquint.com/onweb/mauritius-to-vote-on-additional-budget-to-aid-battered-economy Copyright © BloombergQuint

1

Lawmakers in Mauritius are set to vote on a supplementary budget of 17 billion rupees ($420.8 million) for the fiscal year ending June 30, as part of efforts to support an economy battered by the coronavirus pandemic.
The budget includes 15 billion rupees for centrally managed initiatives of the government, according to the order paper published by the National Assembly for Tuesday’s sitting. The initiatives include spending on development projects and an ongoing wage assistance program.
With tourism at a standstill and borders closed due to the pandemic, the treasury is grappling with a decline in revenue and a increase in public sector debt. The economy contracted 14.9% in 2020, its worst performance in 40 years, while tourism arrivals slumped 99% in the first quarter.

For the current fiscal year, 28 billion rupees have already been allocated to the initiatives, data from the 2020-2021 budget show. On April 22, the Finance ministry said it will borrow 14.4 billion rupees in May and June.

LEAVE A REPLY

Please enter your comment!
Please enter your name here