"The findings underscore the urgent need for effective policy implementation. Ramgoolam's commitment to reducing debt to GDP to 60% along with achieving a primary fiscal balance is a firm commitment to achieve this objective.
The Prime Minister has a sizeable majority in parliament, which could aid fiscal consolidation efforts. However, Mauritius' success in navigating these fiscal challenges will largely hinge on the government's ability to execute its proposed reforms effectively, particularly those aimed at debt reduction, confidence while preserving essential social spending. Achieving these objectives will be key to restoring fiscal stability and maintaining economic confidence. "
In his recent interview to the Week-end newspaper , Sameer Sharma comments on the SoE report : "Tout le monde le savait et pas seulement les professionnels et les membres de l'ancien gouvernement, mais aussi les membres du nouveau. Ce qui ne les a pas empêchés de faire de grandes promesses."
He thinks that the report should have come forward with solutions and credible plans for fiscal consolidation. The focus of the report was rather to prepare Mauritians for the terms of payment of the 14th month bonus and the reduction in fuel prices.
He concludes on this note "La question est de savoir si ceux qui ont la responsabilité de le faire (d'inverser la situation)le feront. S'ils auront le courage et la détermination politiques de le faire "
Indeed, are we committed to a programme of fiscal consolidation and debt reduction ?
Are we prepared for a 5-year economic reform programme aiming at a primary budget surplus and a major debt reduction ?
Is it not urgent to design a credible structural reform programme, with short term adjustment measures ?
Are we setting up a new economic team at MoFED and Statistics Mauritius, both in terms of officers and advisers, to inspire confidence on the reliance of our new figures and to be more credible towards Moody's and to rise up to the challenges ? - a new special task force (involving all our main stakeholders and NGOs) to execute the necessary reforms effectively ?
"The secret of change is to focus all of your energy, not on fighting the old, but on building the new."
