Reply: As the country at large is aware, when we took office in November 2024, we inherited an economy in deep distress, marked by structural imbalances and weakened macroeconomic fundamentals. The prevailing economic model, driven by consumption growth, had become increasingly unsustainable. Productivity growth was sluggish in key sectors of the economy. The budget deficit and public sector debt reached unprecedented high levels, while the trade deficit deteriorated significantly, driven by strong import dependence and limited export diversification. Doing nothing and continuing on the same trajectory was not an option. We had to do away with the consumption-driven approach and adopt a new economic model that is investment-led, productivity-based and export-driven. This implies a fundamental restructuring and diversification of our economy. Economic diversification is an existential imperative. That is why in the 2025-2026 Budget Speech, we announced the creation of four new Pôles de Croissance, that will open new frontiers for economic activity, export earnings and job creation. These Pôles de Croissance are renewable energy, waste-to-wealth initiatives, the blue economy, and creative industries. As regards renewable energy, our objective goes beyond a simple transition to cleaner sources of power; it is to build a fully-fledged domestic industry around local renewable sources of energy. In the coming years, the new industry will mobilise billions of rupees of investments and generate several employment opportunities. The second Pôle de Croissance focuses on the implementation of a range of waste-to- wealth initiatives such as waste-to-compost, and waste-to-energy projects. Our objective is to foster a circular economy. In this respect, the incentive framework is being finalised by the Economic Development Board and will be implemented shortly. Third is the blue economy. With an Exclusive Economic Zone (EEZ) of 2.3 million square kilometres, there is enormous potential for unlocking economic value from the EEZ. Sectors that will be developed are mainly sustainable fisheries and aquaculture, ocean-based renewable energy, and marine transport and trade and minerals we might be able to exploit. The fourth Pôle de Croissance is the creative industries, which we will be positioning as a dynamic and innovation-driven sector with strong potential for value creation and export growth. Beyond these four Pôles de Croissance, Government will also drive the development of the digital economy as a key pillar of future growth. During my state visits in India, I invited leading IT firms to establish their operations in Mauritius as part of our strategy to position the country as a regional hub for digital and technology driven services. In this context, we are setting up a Special Economic Zone at Côte d’Or which will be designed as a next- generation digital and innovation hub. This hub will cater for cutting-edge activities such as artificial intelligence, digital finance, fintech, digital banking and payments, cybersecurity, cloud computing, disaster recovery and data centres. Furthermore, in view of the recent conflict in the Gulf region, we will expand and modernise the port to reposition Port Louis as the premier transshipment hub of the Indian Ocean region. Major investments will be made in infrastructure development and the adoption of latest technologies. We will continue to expand our economic base and diversify into a number of emerging sectors. These include the digital-driven services, artificial intelligence, the pharmaceutical industry, medical tourism, medical devices manufacturing, advanced manufacturing, the knowledge hub, the creative industry, and green and sustainable finance. Notwithstanding these diversification efforts, we will further redynamise existing sectors by enhancing productivity, fostering innovation, and promoting value addition across traditional industries such as tourism, manufacturing and financial services. This will strengthen their resilience, improve competitiveness, and ensure their long- term sustainability in an evolving global environment. We are also working out the Vision 2050, which will provide a coherent and integrated framework that will identify the priority sectors for further economic diversification, and sets clear investment roadmaps and milestones. As I have already stated, this year the economy will be our priority. We will thus give prominence to policies and measures aimed at boosting the economy’s growth potential, raising productivity and competitiveness, creating quality employment, and improving living standards for all Mauritians. RODRIGUES – FLOODING – COMPREHENSIVE ASSESSMENT – FINANCIAL ASSISTANCE