Mauritius : The New Economic Agenda and Fiscal Sustainability
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Washington, DC
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The new Government of Mauritius drafted
the New Economic Agenda (NEA), a five-year reform framework
to develop Mauritius into a high-income, high-tech service
and knowledge economy. First, the Agenda focuses on
improving the environment for the private sector,
particularly given the existing challenges to
Mauritius' traditional export markets. Second, the
Agenda outlines heavy investments in the social sectors in
order to improve skills of the working population, better
meet the needs of an aging population, and more effectively
help the most marginalized in society. Third, the NEA
emphasizes steps to alleviate the multiple pressures on
Mauritius' fragile environment, stemming from the hotel
and textile industry but also from deficient sewerage in
private housing. In the Agenda, the Government commits to
reducing the overall fiscal deficit to about 3 percent of
GDP by the end of its mandate in 2005/6. Further, the
program outlines measures to improve budget management by
prioritizing expenditures to meet NEA objectives and to
gradually eliminate quasi-fiscal activities. The government
is committed to undertake the proposed transformation of its
public expenditures without endangering the stability of the
public sector and the economy.
Palabras clave
AGRICULTURE, ALLOCATION OF RESOURCES, BANK OF MAURITIUS, BENCHMARKS, BUDGET MANAGEMENT, CAPITAL EXPENDITURES, CENTRAL BANK, CENTRAL GOVERNMENT, CITIZENS, CIVIL SERVICE, COMPETITIVENESS, CURRENT EXPENDITURES, DEBT MANAGEMENT, DEBT SERVICE, DECISION-MAKING, DEFICITS, DEVELOPMENT POLICIES, DEVELOPMENT STRATEGY, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ELECTRICITY, EXCHANGE RATE, EXPENDITURE, EXPENDITURE MANAGEMENT, EXPENDITURE REFORM, EXPENDITURES, EXPORTS, FINANCIAL SECTOR, FINANCIAL SERVICES, FISCAL, FISCAL DEFICIT, FISCAL DEFICITS, FISCAL PRESSURE, FISCAL SUSTAINABILITY, FISCAL YEAR, FREE TRADE, GDP, GLOBAL INTEREST, GOVERNMENT DEBT, GOVERNMENT EXPENDITURES, GOVERNMENT LEVEL, GOVERNMENT POLICIES, GROWTH RATE, HOUSING, HOUSING SUBSIDIES, INCOME, INCOME GROUPS, INDUSTRIALIZATION, INSTITUTIONAL FRAMEWORK, INTEREST RATES, INTERNATIONAL ENVIRONMENT, LABOR FORCE, LIQUIDITY, LOAN GUARANTEES, MACROECONOMIC STABILITY, PARASTATAL SECTOR, PARASTATALS, PENSIONS, PER CAPITA INCOME, PRICE CONTROLS, PRIVATE SECTOR, PRODUCERS, PROFITABILITY, PUBLIC DEBT, PUBLIC ENTERPRISES, PUBLIC EXPENDITURE, PUBLIC EXPENDITURE REFORM, PUBLIC EXPENDITURES, PUBLIC FINANCE, PUBLIC MANAGEMENT, PUBLIC PRIVATE PARTNERSHIPS, PUBLIC RESOURCES, PUBLIC REVENUES, PUBLIC SECTOR, PUBLIC SECTOR DEFICIT, PUBLIC SECTOR WAGES, REVENUE, REVENUE COLLECTION, SAVINGS, SOCIAL CAPITAL, SOCIAL SECTOR, SOCIAL SECTOR EXPENDITURES, SOCIAL SECTORS, SOCIAL WELFARE, SURCHARGES, TAX, TAX EXEMPTIONS, TAX EXPENDITURES, TAX INCENTIVES, TAX POLICY, TAX REVENUES, TAXATION, TRANSPORT, UNEMPLOYMENT, UNEMPLOYMENT RATES, UTILITIES, WELFARE SYSTEM FISCAL SUSTAINABILITY, POLICY DEVELOPMENT, PUBLIC FINANCE MANAGEMENT, ECONOMIC MANAGEMENT, INSTITUTIONAL FRAMEWORK, GROSS DOMESTIC PRODUCT, POLITICAL STABILITY, FISCAL MANAGEMENT, PRIVATE SECTOR, SUGAR, TEXTILES, WELFARE, CIVIL SERVICE, GOVERNMENT EXPENDITURES, EXPORT MARKETS, INVESTMENTS, SOCIAL SECTORS, BUDGET MANAGEMENT, FISCAL DEFICITS