Mauritius Budget Speech 2020 / 2021
The recently re-elected Government had the extremely delicate task of presenting their first budget for the fiscal year 2020/21 on 4th June 2020, amid the impact caused by the COVID-19 pandemic on the world economy. Dr the Honourable Renganaden Padayachy, Minister of Finance, Economic Planning and Development, announced several measures aimed at reviving a number of the worst hit sectors in Mauritius, such as the construction, tourism and manufacturing sectors.
For the financial services sector, the Minister reiterated the commitment of the Government to ensure that the financial services sector operates within recommended international best practices and norms. In this respect, the Government will ensure that the remaining 5 recommendations under the Financial Action Task Force (FATF) Action Plan for Mauritius are implemented by September 2020.
Please read our summary of the main measures announced in the Budget below.