Mauritius Budget Focuses On Strengthening And Sustaining The Economy

Minister of Finance Dr Renganaden Padayachy presented the Mauritius National Budget 2023/2024 on 2 June, which was focused on strengthening, continuing and sustaining the economy.

According to the IMF's World Economic Outlook in April 2023, Mauritius was amongst the 20 fastest growing economies in the world last year. The Mauritian economy grew at its fastest pace in over 35 years in 2022, by 8.7% compared to an initial forecast of 7.2%, while GDP exceeded earlier estimates by MUR26 billion to reach MUR570 billion.

Total investment exceeded expectations by MUR10 billion to reach MUR113 billion, a 20% increase over 2021. Foreign Direct Investment totalled MUR27.7 billion, 50% higher than in 2021, while exports of goods and services totalled MUR320 billion, an increase of MUR40 billion over earlier estimates and a surge of MUR110 billion compared to 2021.