Padayachy: “We are in a policy of increasing wealth, even if the debt increases a little”

For Renganaden Padayachy, it is a Budget with a long-term vision, taking into account the many components of society, and the priorities and different problems that households encounter. This was underlined by the Chief Financial Officer, who participated in a question-and-answer session, the Budget Breakfast, the day after the presentation of the 2024-2025 Budget, in Ebène, this Saturday morning, June 8.

Reacting to a question on the public debt, the Minister of Finance declared: “We are in a policy of increasing wealth, even if the debt increases a little. We will do what is necessary so that a child is born in better conditions. We are doing things to increase economic resilience, the debt will go down.”

He added: “Inflation will be in the 3-5% range. This will continue in the future.”

“The collection rate is around 25.5% of GDP, it’s an ‘achievement’,” says Renganaden Padayachy.

And added: “We are going to exceed the potential of our economic growth. Of course, there will be inflationary pressures. We are working for a gradual decline in inflation. The government has put in place a series of measures.”

To another question on the realignment of the minimum wage, the Minister of Finance replied that the report will soon be presented to the private sector for negotiations.