Seychelles: Third Review Under the Extended Fund Facility Arrangement and Request for Modification of Indicative Targets-Press Release; and Staff Report
IMF Staff Country Reports, December 16, 2022
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- Seychelles: Third Review Under the Extended Fund Facility Arrangement and Request for Modification of Indicative Targets-Press Release; and Staff Report
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Bibliographic details
- Published: December 16, 2022
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400226809.002
Economic recovery driven by tourism
- Real GDP growth is expected to accelerate to 10.6 percent in 2022, up from 7.9 percent in 2021.
- The recovery is uneven across sectors of the economy.
- Tourism is driving a strong economic recovery in Seychelles.
Fiscal consolidation, policy buffers, and social protection
- The primary fiscal deficit in 2022 is expected to narrow to 1.1 percent of GDP.
- This reflects an extraordinary consolidation of 13.6 percentage points over the last two years.
- The authorities have begun to rebuild policy buffers and have taken measures to protect the poorest as the country transitions from the COVID-19 outbreak.
Debt dynamics and risks to sustainability
- Public debt-to-GDP ratio projected at around 68 percent at end-2022.
- This registers a 21-percentage-point reduction in two years.
- Risks to debt sustainability have been significantly reduced.
Publication and document identifiers
- Pages: 73
- Volume: 2022
- Issue: 374
- Series: Country Report No. 2022/374
- DOI: https://doi.org/10.5089/9798400226809.002
- Stock No: 1SYCEA2022006
- ISBN: 9798400226809
- ISSN: 1934-7685
- Publication date on landing page: December 16, 2022
International Monetary Fund. Seychelles: Third Review Under the Extended Fund Facility Arrangement and Request for Modification of Indicative Targets-Press Release; and Staff Report.
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- 1sycea2022006