# Ministry of Finance (Mauritius)

The Ministry of Finance of Mauritius is a ministerial department found in the Cabinet of the government of the republic. It is considered as the most executive and important ministry in the cabinet after the Prime Minister's Office. The minister of finance is the most desirable position in the cabinet of the country except of the prime minister. Most of the times being the Deputy Prime Minister or any other senior member of the cabinet. Created along with the cabinet on 7 July 1968, since then it is found in the cabinet.
There are other departments falling under the aegis of the office such as economic development or empowerment. The department is not to be confused with the minister of economic planning as the minister of finance is the sole person in charge of the yearly budget for governmental and parliamentary works. The incumbent minister is Navin Ramgoolam who is also the Prime Minister, took office as from 22 November 2024.

## Cabinet importance

The ministry of finance in the country is a very important department. It controls all the economic activities of the country as well as determines major price index of all the staples and all other commodities subsidies and taxes. It also determines the price of petrol and gas.
The Central Bank of Mauritius falls under the department and is accountable to the minister. Often considered as the post of the most eligible future prime minister, the minister of finance plays a rather important role in a government as it may decide if the economics policies brought forward by the political party in power are good or rather futile. This may result in a change in people's vote which may oust a government to a new party for a better economic management.

## History

Many Finance ministers have shaped the economy and brought about significant economic changes and benefits to the country working under the lead and guidance of their prime ministers. Vishnu Lutchmeenaraidoo was one of these Finance ministers from 1983 to 1991 in the cabinet of Anerood Jugnauth where he introduced ideas and policies developed by Jugnauth.
In some other cases like in 2000 to 2003, then finance minister Paul Bérenger who was also deputy prime minister, brought some of his own economic ideas and development which resulted in a constructive economic sector known as the BPO. Berenger became prime minister in 2003 and appointed Pravind Jugnauth as the head of finance and his deputy. Pravind Jugnauth also held the office with his own ideas and initiatives without the need to constantly seek the lead of Bérenger. This led to conflict between them and the eventual dissolution of their coalition after they lost the 2005 general election to Navin Ramgoolam.
In 2005 when Navin Ramgoolam came to power, he formed a new cabinet and appointed Rama Sithanen as namesake minister. Sithanen introduced a series of economic policies and implementations such as free public transport to students and senior citizen and also the removal of Subsidies on O level and A level examinations in High School.
In 2010, after retaining power for the second successive mandate Navin Ramgoolam formed a new government in alliance with the Militant Socialist Movement. The leader of the MSM, Pravind Jugnauth was re-appointed as Vice Prime Minister and Minister of Finance. He also implemented his own policies and economic changes as per his party's program within the coalition. This led to tension, compounded by the Medpoint scandal that led to the split of their alliance.
In December 2014, Ramgoolam lost the general election. Anerood Jugnauth, who defeated him, formed a coalition government and brought back Vishnu Lutchmeenaraidoo in the hope of creating a Second Economic Miracle.

## Salary

The salary of the minister of finance is the same as a cabinet member unless, the office holder is also appointed as deputy prime minister or vice prime minister. The salary is as follows
| Office | Salary Yearly |
| Deputy Prime Minister Minister of Finance | Rs 1,800,000 US $60,000 |
| Vice Prime Minister Minister of Finance | Rs 1,740,000 US $58, 000 |
| Cabinet Minister | Rs 1,740,000 US $58, 000 |

## List of finance ministers

| Portrait | Portrait | Name | Term of office | Term of office | Term of office | Portfolio name | Party | Prime minister |
| Portrait | Portrait | Name | Took office | Left office | Time in office | Portfolio name | Party | Prime minister |
| | | Seewoosagur Ramgoolam | 26 September 1961 | 15 August 1967 | 5 years, 323 days | Finance | PTr | S. Ramgoolam |
| | | Guy Forget | 15 August 1967 | 12 March 1968 | 210 days | Finance | PTr | S. Ramgoolam |
| | | Veerasamy Ringadoo | 12 March 1968 | 15 June 1982 | 14 years, 95 days | Finance | PTr | S. Ramgoolam |
| | | Paul Bérenger | 15 June 1982 | 22 March 1983 | 280 days | Finance | MMM | A. Jugnauth |
| | | Anerood Jugnauth | 28 March 1983 | 30 March 1983 | 2 days | Finance | MMM | A. Jugnauth |
| | | Anerood Jugnauth | 28 March 1983 | 30 March 1983 | 2 days | Finance | MSM | A. Jugnauth |
| | | Vishnu Lutchmeenaraidoo | 30 March 1983 | 18 August 1990 | 7 years, 141 days | Finance | MSM | A. Jugnauth |
| | | Anerood Jugnauth | 18 August 1990 | 15 September 1991 | 1 year, 28 days | Finance | MSM | A. Jugnauth |
| | | Rama Sithanen | 15 September 1991 | 30 December 1995 | 4 years, 106 days | Finance | MSM | A. Jugnauth |
| | | Rundheersing Bheenick | 30 December 1995 | 6 August 1996 | 220 days | Finance | PTr | N. Ramgoolam |
| | | Vasant Bunwaree | 27 November 1996 | 17 September 2000 | 3 years, 295 days | Finance | PTr | N. Ramgoolam |
| | | Paul Bérenger | 17 September 2000 | 30 September 2003 | 3 years, 13 days | Finance | MMM | A. Jugnauth |
| | | Pravind Jugnauth | 30 September 2003 | 23 December 2003 | 1 year, 280 days | Finance | MSM | Bérenger |
| | | Pravind Jugnauth | 23 December 2003 | 7 July 2005 | 1 year, 280 days | Finance and Economic Development | MSM | Bérenger |
| | | Rama Sithanen | 7 July 2005 | 13 September 2008 | 4 years, 308 days | Finance and Economic Development | PTr | N. Ramgoolam |
| | | Rama Sithanen | 13 September 2008 | 11 May 2010 | 4 years, 308 days | Finance and Economic Empowerment | PTr | N. Ramgoolam |
| | | Pravind Jugnauth | 11 May 2010 | 26 July 2011 | 1 year, 76 days | Finance and Economic Development | MSM | N. Ramgoolam |
| | | Xavier-Luc Duval | 26 July 2011 | 6 June 2014 | 2 years, 315 days | Finance and Economic Development | PMSD | N. Ramgoolam |
| | | Navin Ramgoolam | 6 June 2014 | 17 December 2014 | 194 days | Finance and Economic Development | PTr | N. Ramgoolam |
| | | Vishnu Lutchmeenaraidoo | 17 December 2014 | 14 March 2016 | 1 year, 88 days | Finance and Economic Development | MSM | A. Jugnauth |
| | | Anerood Jugnauth | 14 March 2016 | 24 May 2016 | 71 days | Finance and Economic Development | MSM | A. Jugnauth |
| | | Pravind Jugnauth | 25 May 2016 | 12 November 2019 | 3 years, 171 days | Finance and Economic Development | MSM | A. Jugnauth |
| | | Pravind Jugnauth | 25 May 2016 | 12 November 2019 | 3 years, 171 days | Finance and Economic Development | MSM | P. Jugnauth |
| | | Renganaden Padayachy | 12 November 2019 | 22 November 2024 | 5 years, 10 days | Finance, Economic Planning and Development | MSM | P. Jugnauth |
| | | Navin Ramgoolam | 22 November 2024 | Incumbent | 107 days | Finance | PTr | N. Ramgoolam |