A Journey Derailed

(Published MTimes 30 08 2019)

The bottom line in 2014 was that people wanted change. The people wanted a new future that would embrace transformation and reorientation to keep pace with their changing sentiments, aspirations, needs, and preferences. The old order had to give way to the new.

As many politicians had been getting too haughty and out of tune, the voters were willing to try something different, a mixture of old and new, for a new journey driven by the SAJ-Lutchmeenaraidoo duo that were referred to as the architects of our first so-called “miracle”.  The voters were willing to give these old hands, supported by some young Turks, another chance to fulfil their promise of bringing about a new second “miracle” that would lift all our people with the tide of growth and rid us of the persistent level of absolute poverty.

Their Economic Mission Statement (ECM) offered us a strategic vision for a more diversified and resilient economy and a road map to achieving high income economy status by 2030. The vision statement aimed at creating 100,000 new jobs during the next five years in 10 sectors of the economy through major investment projects amounting to Rs 185 billion and achieving an average growth rate of 5.5% annually as from 2017. 

The new sources of growth that were expected to propel the economy to a high income status involved a revamped and dynamic manufacturing base for the country, leveraging on the Exclusive Maritime Economic Zone to develop the Ocean Industry, revisiting the services sector and renovating the Innovation, Technology and Communications sector as well as the Port sector. Mauritius would gradually be establishing itself as a regional hub for healthcare and medical services as well as a medical education centre of excellence for Africa. The Africa Strategy,  another core element of the Economic Mission Statement, which was designed/meant to transform Mauritius into a regional platform for trade, investment and services, would have been achieved through enhanced economic exchanges and improved air and sea connectivity, with the eventual creation of both regional air and shipping companies. 

The last five years, however, have been a deception for the people of Mauritius. We are stuck with a sluggish economy. The youths have not got the promised jobs. The small farmers have lost hope. Traders are apprehensive of tomorrow. Micro and small medium enterprises are retreating. Women have lost their sense of security. Institutions have lost their independence. Lots of promises were made, but very little has been achieved. Instead lots of freebies have been distributed, and this at the cost of the development agenda. The impact  of the “chantiers” or public investment splurge in terms of expansion of the market and its spill-over effects on demand and investments has been marginal. There’s also  the reprimands of the IMF which has warned that in the near-term fiscal consolidation is needed to bring down our elevated public debt. For how long they will they continue to dip in the BOM’s reserves to bridge the fiscal deficit?

The greatest disenchantment of the population with this regime is that once in power there was no telling when fair would turn foul and foul fair. The harshest blow is that the lamda citizen has lost his faith in the Lepep government for non-delivery on its promises. What we are left with are  prestige projects, questionable statistics, unsustainable growth in consumption and current account deficits, huge debt, and an overall climate of intimidation, cronyism and nepotism.The cracks that they tried to paper over during the past years are widening fast and dramatically pushing the government to the brink. A full-blown crisis is unavoidable.

1Asif Jeetun

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