Helping Mauritius bounce back
Finance minister Renganaden Padayachy is a member of Mauritius’s economic policymaking elite. He worked at the central bank, the Financial Services Commission and the Chamber of Commerce and Industry before his current appointment in November 2019.
Under his leadership, public debt and the fiscal deficit have risen, while the value of the local currency dropped, due in part to the Covid-19 pandemic. He also oversaw an increase in the welfare budget to R100bn ($2.3bn) following the start of the coronavirus pandemic.
He told the media in April: “You should not compare us to other countries. We have the capacity to respond to this crisis and we have adopted the strategies we need to bounce back better.
Promoting Mauritian manufacturing
With the crisis in Ukraine highlighting Mauritius’s dependence on imports, local production
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