Second anniversary of the investiture of the President of the Republic, Biannual review: Economic Growth, Challenges and Perspectives

Nouakchott,  13/08/2021
Mauritania has witnessed significant changes since the arrival two years ago to the power of his Excellency the president of the republic Mohamed Ould Cheikh Elghazouani on 1 of August 2019.Thus bringing new policies, new way of leadership and new hopes. New pages of economy developments thinking has emerged following the programs of the president of the republic campaigns to cite:
-My Commitments
-Advanced priority Commitments (PrePP)
-Accelerated growth prosperity sharing (SCAPP)
-National organism for livestock development (ONARDEL)
-Agency for the promotion of investment in Mauritania (APIM)
-Creation of national company MAADEN
-National agency for mining patrimony geological research (ANARPAM)
All these ingredients are the spark of new economic development for the country based on inner cities' participation in the process. Certainly the last 17 months has been marked by this fierce sanitary crisis and it persists. This pandemic has had its negative impact on Mauritania development the like of all countries of the world and on the lives of our populations.
Months later after the appearance of the Covid -19 pandemic, we predicted counter-performance of the economic growth which is 3.2%.At the end of the year first estimations were a downfall to 2.2%.With few months delay the national economic growth percentage rate in 2020 is rather -1.76%.This means that measures undertaken by the government since April 2020, and extended until September have had a positive impact on economic activity. The government has developed an ambitious investment program targeting 10% of the GDP in a 30 months period. It brings direct support to Mauritanians touched severely by this pandemic by creating jobs and driving the economic growth through mobilization of the national private sector.Mauritania has already implemented strategies of accelerated growth and shared prosperity (SCAPP) in concordances with the program of the president priorities enhanced (ProPEP).The SCAPP aims at strengthening growth and employment, reducing inequities, eradicating poverty, by accelerating the changes of economy and social policies. To do this it is necessary (i) to move the sector with more jobs potentials in agriculture, pastoral activity and fishing;(ii)continue to modernize public infrastructure; and (iii)promote the private sector by encouraging business ,public private partnerships, and access to small and medium sized enterprises (SME), and foreign direct investments. To set a durable and important strategy of job growth on the last 31 March, the president of the republic has established a new policy for development and valuation of the livestock sector. The organization of research and livestock development (ONARDEL) will strengthen the national treasure, in quantity and quality, the medium and small enterprises (MPE) will make the private sector value livestock products. This new approach will make the agriculture sector an important vector in the development of the country. On 23 June 2021 ,the government has opened wide windows to develop the agricultural sector by promoting a win –win partnership between locals, the private investors and the government that will allow the latter to get rid of its dependency food products from abroad and fallow lands needed to be cultivated for the growth of the economy and jobs creation. This dynamic will ensure the play of the private sector in the development of the country in all aspects particularly agriculture, livestock and fishery sectors. In addition to the rely on public private sector contributions ,a new body saw the light on July 14 2021 which the agency for investment promotion in Mauritania(APIM) that is answering and finding solutions to all problems facing the Mauritanians entrepreneurs: lack of funding( create an investment fund),lack of durable cash resources(the need to allow the durable credit for development entity to follow new credit policy),the lack of guaranty requested by financing(decision to operate guaranty national fund to have access to international warranty tools for Mauritanian economic operators).The put together of new policies has given hopes to a more energetic private sector with whole small and medium enterprises (SME) integrated into the national economy, holding progress and employment. The need of the country for public and private investments however goes beyond the funding of SME. Public private partnership is a means to attract direct foreign investments. Thus a law protecting private public projects has been revised and put into effect, and a new office dedicated to this subject has been created. Many of the projects are going well in good conditions.2022 has to see many of these projects come into fruition. Also new infrastructures .New sources of growth too. After the swearing-in of the president of the republic Mohamed Ould Cheikh Elghazouani, a new management policy saw the light regarding the national mining potentials: the creation of Mauritania mining company MAADEN and national agency for geology research and mining patrimony in in the right direction to a better valorization of the potential. The necessary promotion is figuring in the reform. The resolution of a longtime conflict between shareholders of Tasiast Mining and the government helps to set free investments in this vital sector for growth. It directly allowed the extension of Tasiast Mining which will have a good impact on growth and jobs. Green energy (hydrogen) potentials are taken into account by the authority-not yet promoted nationally but the government is taking steps towards that direction in the short and long term. The government is ready for the promising gas project offshore Grand Tortue Ahmeyim GTA due to be exploited in 2023.In addition to the impact on the budget and foreign currency reserves ,the project will help create jobs, access to education and health for the benefits of the population. It will be the motto of clean energy. To tell the truth, the last two years have been subject to the birth of a clear and bold vision of economic reforms. The policy aims to put in place an attractive framework for private investment giving pace to development and jobs. The Mauritanian government as agent to these reforms will continue to play the role: by implementing the engagements of the president ProPEP, financing the five year plan 2021-2025 of the SCAPP ,reducing the burden of debt and the start of essential projects for growth(energy, water ,roads ,digital).For two years the aim was to release energies, reassure investors, promote and publicize the national economic potential and allow sustainable and inclusive growth.

HORISONS

Last modification : 13/09/2021 11:00:39