Coronavirus: Mauritania to mobilise $712 million for revival of its economy

03 Septembre 2020

Nouakchott, Mauritania, September 3 (Infosplusgabon) - Mauritanian President Mohamed Cheikh ould Ghazouani announced on Wednesday the government would mobilise 240 billion ouguiyas, about US$ 712 million, for economic revival because the country was hard hit by the coronavirus (Covid-19) pandemic.

"This pandemic has caused serious damage at all levels, national and international, and generated new complex economic and social realities which carry serious dangers," he said.

"It has brought negative consequences on our national economy, causing a decline in our Gross Domestic Product (GDP) as well as a drastic reduction in our tax revenues, besides an increase in expenditure which worsened the budget deficit," hepointed out.

"In addition, this pandemic has revealed the structural weaknesses of our economic system. This situation highlights the importance of strengthening the role of the State in the regulation of the economy, the orientation of investment, the development of the productive sector and the implementation of a sustained action in favour of the achievement of the greatest possible level of food self-sufficiency," the president stated.

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