According to the Minister of Finance, the construction industry has encountered a growth of an average of 10, 5% every year during the 2006-2008 to slow down this year with a decrease in the IRS and RES projects. However, the investments in the public sector allowed the construction industry to maintain a positive growth of 2, 5%. Same goes for the real estate industry which encountered an average growth of 7% from 2006 to 2009, with an exceptional 6% growth this year.
In this context, the Minister Sithanen advices that he reviewed the different created funds in May in order to stimulate the economy. This is how the funds dedicated to regional local authorities’ infrastructures receive Rs 1, 1 billion to finance 57 projects: markets, crematoriums, lightings and the upgrade of the standards of the infrastructures and sports facilities, mainly. Till today, 12 projects have been completed for a sum of Rs 106 millions. In this current budget, Rs 130 million have been registered to shift the St Martin transfer station to La Chaumière and with the available funds from 2010, it is foresee to build markets in Flacq, Rivière des Anguilles, Abercrombie and multifunctional complexes in Vacoas, Bon Accueil, Rivière des Créoles, Résidence Vallijee, Pamplemousses and Souillac.
Source: Business magazine(18-24 November 2009)
