Confidence in economic growth
Apr 3, 2007, 11:57

The Interim Government is committed to stabilise the economy and bring positive growth and prosperity, says the Minister for Finance, National Planning and Sugar Industry, Mahendra Pal Chaudhry.

Speaking to the Ministry of Information, Mr Chaudhry said that the Ministry’s main aim is to achieve a surplus budget in the medium to long term and they have already set a solid platform with the announcement of a number of measures in the Revised 2007 Budget.

“ We are confident of achieving a positive growth by creating a conducive environment to bring more investments and improve implementation of the stalled projects,” he said.

However, Mr. Chaudhry revealed that the most challenging task at hand for the Finance Ministry is to stabilise Government finances that have been in a bad state when the Interim Government took over the previous administration.

“ The most challenging task upon us in the short term is to stabilise Government Finances, which was in a bad shape when the Interim Government took over. We have work around the targeted budget deficit of two percent for 2007 and we are determined to benefit all players of the economy during this precarious situation,” he said.
He added that to achieve growth and propriety the Ministry has formulated policies, which are development oriented.

“This is shown for instance through an increase in the Budgetary allocation in the resource sector particularly Agriculture, Sugar Reforms, on the other hand are vigorously pursued through the use of funds at our disposal to put certain process in place, while we remain hopeful for the EU assistance.”

Meanwhile he said that Government is also committed to strength the exports sector in the medium and long term.

“ Government has put aside $2.5 million to implement the recommendations identified for the priority sectors in the National Export Strategy to improve our exports in the short term,” said Mr Chaudhry.



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