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Business Mauritius Budget Memo FY2022/2023

Macroeconomic challenges, namely the inflationary pressures from international supply shocks which are exacerbated by the depreciation of the rupee, the National Debt situation, the slowing investment rate and a stark goods account deficit, are worrying when businesses are still recovering from the COVID outbreak and are now impacted by the uncertainty prevailing in the global economy following the crisis in Ukraine. At this crucial period, it is of utmost importance to have concerted efforts between the private and public sectors to ensure a transition towards renewable energy sources and circular economy practices, build capacity in the face of de-globalization trends and address long-overdue labour market reforms, attract global talents, carry out structural reforms, enable adequate sea and air connectivity and seize available economic opportunities while providing support to the most vulnerable and furthermore optimising our net foreign exchange earnings.