Second, there is the worrisome tendency of the last twenty years: we have had a budget surplus for only one year; the rest of the time, we have lived on debt, increasing the external debt. I would like to remind you of a simple equation: budget deficit=greater public debt=higher taxes.
Rotation of officers in fraud-prone areas of any bank’s operations is essential. Bank officers should compulsorily go on vacation leave once a year. This is an elementary principle in the management of any financial institutions. The Bank of Mauritius receives numerous complaints from bank customers. May I say that there is much scope for improving the quality of services offered by several banks.