1. Mauritius is in an economic boom (2024). His justification in August 2025 is that we've clipped growth rates higher than 5% for the preceding three years. The only reason we've clipped these growth rates is, as the following chart pulled from WTVF shows, that the economy has been rebounding from the nearly 15% contraction caused by Covid in 2020. We should also note that Mauritius has been one of the last countries in the world to get back to its pre-Covid levels of activity.
Padayachy's average growth rate for 2020-24 as Minister is 1.6% which is the lowest of any government since independence while his share of the Sithanen toohrooh at the end of 2024 was 60%. Furthermore to assess the type of economic conditions of any period we should look at many indicators. One such indicator, the behaviour of our national currency tells another story. We could also look at the Rs154 billion of underinvestment in our public health sector since 2006.
2. What will government say when growth for 2025 turns out to be less than 2% (2025)? It would not be a big surprise because the economy has been by our potential and justification for an unfair and unsustainable tax structure which began with the Sithanen 15% flat tax since 2006 in an L-shaped growth recession for most of the time. We'd just be resuming our journey in the abyss.
3. I don't know how much money the Central Bank printed during Covid (2025). This is a standard statistic that a Minister of Finance watches because of its potential impact on economic activity and prices. So five years after it allegedly happened he still does not know? Hmm.
4. Our currency depreciated because of the impact of Covid-19 on tourism (2025). Covid definitely has had a big impact on the economy but the value of our currency would have been different with a better management of the economy in the preceding years. Also, he should tell us what happened to the rupee between 2015 and 2019 when tourist arrivals increased by over 30% from their 2014 level (he's been either a board member or First Deputy Governor of the BoM in this period).
5. Making it easier for workers who are helping to develop Mauritius to buy very expensive properties of Rs15 million which 100% of middle-class Mauritian can't buy will help our youth and women get back into the labour force (2022). So you're fuelling more real estate speculation and using a corresponding levy to supposedly create jobs for people and making it more difficult for them to buy real estate. Despite a severe brain-drain problem. Nice.
6. Sithanen not giving in on Bheenick clearance is what a Central Bank Governor is all about (2025). Sithanen has been an unmitigated disaster as Finance Minister and has confirmed through several of his statements that he is very incompetent and toxic. He has also come across as someone who doesn't like to be challenged. Someone intelligent and independent like Bheenick is obviously anathema to him. Besides it's not the first time that he's having problems understanding the Bank of Mauritius Act and challenging Ramgoolam's prerogatives. You may also want to check how I ranked eight FMs in 2023.
7. The Bank of Mauritius is an independent institution (2025). It is supposed to be and it felt like that when Bheenick was Governor. Not when Basant Roi was in charge or when Pravind Jugnauth used the Special Reserve Fund for fiscal policy. The current dispensation is definitely not independent with statement like this.
8. I learned from great Central Bank Governors like Basant Roi (2025). This could explain why our rupee has been tanking since 2014. And we got double-digit inflation in 2022.
