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Budget Highlights 2023

The fourth budget of the incumbent government, presented on 02 June 2023 by the Hon. Dr Renganaden Padayachy, comes in handy at a time when the Mauritian economy is showing nascent signs of converging towards its pre-pandemic level amid geopolitical uncertainties.

Cementing Economic Cooperation Between Mauritius and China

Initiatives to propel Mauritius as a preferred jurisdiction of enviable reputation have intensified following the exit of the country in 2022 from the FATF grey List, the EU black list and the UK's list of high risk countries.

Financial System Resilience

Mauritius continues to attract foreign investments from abroad and remains a center of enviable repute as an International Financial Centre. Foreign investments into various luxurious real estate schemes are expected to pick up, going forward.

Inflation in Mauritius

Given the country’s relatively high marginal propensity to import and the relatively high pass-through parameter, inflation in Mauritius is co-integrated with global inflation trends and it closely follows the worldwide evolution of commodity and energy prices.

Domestic Growth

The growth momentum in Mauritius is encouraging. Since borders were opened in October 2021 and the successful rollout of national vaccination campaigns, all major economic sectors have confidently rebounded, with tourism as the trailblazer.

Global Economic Developments

The global economy emerged from the COVID-19 pandemic and posted positive growth performances in 2021 as vaccination campaigns were rolled out and as travel-related restrictions were lifted.

Budget Highlights 2022 - 2023

Set against a backdrop characterized by a challenging global economic environment, the budget 2022-23 presented by the Honorable Minister of Finance Dr. Renganaden Padayachy, charts the pathway towards a sustained and inclusive recovery.