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'Stimulus package saves 1,700 jobs' – Finance Minister
09 Mar '09
1 min read
According to Mr Ramakrishna Sithanen, Finance Minister of Mauritius, the US $330 million stimulus package declared in December 2008, has helped save 1,700 jobs in various sectors, including textiles, which is one among worst hit sectors in the country.
A joint committee compromising from public-private sector companies had been formed to overlook the implementation of the package and the committee is expected to approve Rs 300 million for at least twelve struggling enterprises in the country.
According to an International Monetary Fund (IMF) study, the country is expected to grow by two percent in 2009, compared to 5.1 percent achieved in 2008, the reduction in growth coming about in the $9 billion economy, mainly due to reduced export orders.
The finance minister added by saying that, the budget to be declared in the year will solely focus on maintaining employment opportunities in the island country. Mauritius will declare two budgets this year, since it is changing its financial year system.
A joint committee compromising from public-private sector companies had been formed to overlook the implementation of the package and the committee is expected to approve Rs 300 million for at least twelve struggling enterprises in the country.
According to an International Monetary Fund (IMF) study, the country is expected to grow by two percent in 2009, compared to 5.1 percent achieved in 2008, the reduction in growth coming about in the $9 billion economy, mainly due to reduced export orders.
The finance minister added by saying that, the budget to be declared in the year will solely focus on maintaining employment opportunities in the island country. Mauritius will declare two budgets this year, since it is changing its financial year system.
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