For the Fiscal Year 2019
Theme: "Stability and Progression"
In the Seychelles National Assembly
Ile Du Port, Victoria, Mahe, Seychelles
Monday 5th of November, 2018 at 9.00 a.m.
Mr. Speaker, ten years ago, our nation embarked on a journey for an economic transformation. It was a difficult choice but as a nation, we opted for a path toward economic sustainability through a macro-economic reform program aimed at restoring macro-stability and putting Seychelles on a path toward fiscal sustainability. Last week, we celebrate ten years of economic reform program and we have seen the progress we have made based on the socio-economic development of the Country. For the past ten years the primary budget balance has been on average above 5% but we are now forecasted a primary budget balance of 2.5% over the medium term. Our economic growth has been above 3% of GDP.
We have remained stable despite the economic pressure from the world market. We have a long list of infrastructure development that need to happen to put Seychelles in the next level of its development.
Mr. Speaker, each Seychellois needs to see his/her development in the progress of the country. One cannot be left behind because of his/her vulnerability. How can we be more productive and responsible as a nation to bring more economic growth for the development of Seychelles and as result the benefit to ourselves. This can only be done through a consolidated effort based on the opportunity that exists. The Government, private sector and civil society will need to work on only one goal, for the development of Seychelles.
Mr. Speaker, in light of this, the theme chosen for the 2019 budget is "Stability and Progression"