Seychelles - Selected Issues : Social Protection, Labor Market and Public Enterprise Reforms - Public Expenditure Review 2

World Bank

dc.creator	World Bank
dc.date	2012-03-19T10:12:19Z
dc.date	2012-03-19T10:12:19Z
dc.date	2011-03-01
dc.date.accessioned	2023-02-17T20:40:56Z
dc.date.available	2023-02-17T20:40:56Z
dc.identifier	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333037_20110321000841
dc.identifier	http://hdl.handle.net/10986/2740
dc.identifier.uri	http://localhost:8080/xmlui/handle/CUHPOERS/243108
dc.description	Until 2008, Seychelles pursued a state-led economic model of self sufficiency which ultimately proved unsustainable. In 2008, precipitated by rising global commodity prices, Seychelles entered a balance of payments and debt crisis, as international reserves were virtually depleted and external debt service payments were missed. The Government of Seychelles responded quickly by floating the rupee and liberalizing the foreign exchange regime, and agreeing a program with the International Monetary Fund under a 2 year stand-by agreement in November 2008. Although the liberalization of the exchange rate in November 2008 led to initial inflation rates in excess of 60 percent, the relative prices shock was quickly absorbed. Annual inflation fell from a high of positive 63.3 percent in December 2008 to negative 1.0 in August 2010. As the price and foreign exchange controls were lifted, the informal market in foreign currency quickly disappeared. This Public Expenditure Review (PER) also provided the Bank with an analytical basis to inform development policy lending in 2010. The specific objectives of the review are to: (i) provide an update on the macroeconomic stabilization efforts and changes to the fiscal policy for medium term debt sustainability and a more efficient and affordable public sector; (ii) analyze key public enterprise reform issues, including a review of the recently introduced legal and institutional changes to improve governance and oversight of the sector; and (iii) review the performance of the social security and labor market and an assessment of the ability of the private sector to absorb employees being retrenched as a result of the civil service reforms.
dc.language	English
dc.publisher	World Bank
dc.rights	CC BY 3.0 IGO
dc.rights	http://creativecommons.org/licenses/by/3.0/igo/
dc.rights	World Bank
dc.subject	ACCOUNTABILITY
dc.subject	ACCOUNTING
dc.subject	ADMINISTRATIVE COSTS
dc.subject	ANNUAL BUDGET
dc.subject	ANNUAL BUDGET CYCLE
dc.subject	ANNUAL BUDGET PREPARATION
dc.subject	ANNUAL REPORT
dc.subject	ANNUAL REPORTS
dc.subject	APPROPRIATION
dc.subject	ARTICLE
dc.subject	AUDITOR GENERAL
dc.subject	AUDITORS
dc.subject	BALANCE OF PAYMENTS
dc.subject	BENEFICIARIES
dc.subject	BUDGET CIRCULAR
dc.subject	BUDGET CONSTRAINTS
dc.subject	BUDGET COVERAGE
dc.subject	BUDGET CREDIBILITY
dc.subject	BUDGET EXECUTION
dc.subject	BUDGET EXPENDITURE
dc.subject	BUDGET FRAMEWORK
dc.subject	BUDGET POLICY
dc.subject	BUDGET PREPARATION
dc.subject	BUDGET PROCESS
dc.subject	BUDGET STRATEGY
dc.subject	BUDGET SUBMISSION
dc.subject	BUDGET SUPPORT
dc.subject	BUDGET TRANSFERS
dc.subject	CAPACITY BUILDING
dc.subject	CAPITAL EXPENDITURE
dc.subject	CAPITAL EXPENDITURES
dc.subject	CAPITAL GRANTS
dc.subject	CAPITAL INVESTMENTS
dc.subject	CAPITAL SPENDING
dc.subject	CAPITAL STOCK
dc.subject	CASH BALANCES
dc.subject	CASH MANAGEMENT
dc.subject	CASH TRANSFERS
dc.subject	CENTRAL BANK
dc.subject	CENTRAL BUDGET
dc.subject	CENTRAL GOVERNMENT
dc.subject	CENTRAL GOVERNMENT BUDGET
dc.subject	CHART OF ACCOUNTS
dc.subject	CIVIL SERVICE
dc.subject	CIVIL SERVICE REFORMS
dc.subject	COMMODITY PRICES
dc.subject	COMPOSITION OF EXPENDITURES
dc.subject	CONSUMPTION SMOOTHING
dc.subject	CONTINGENT LIABILITIES
dc.subject	COST-BENEFIT ANALYSIS
dc.subject	COSTS OF GOVERNMENT
dc.subject	CREDIT RATINGS
dc.subject	DATA COLLECTION
dc.subject	DEBT
dc.subject	DEBT CRISIS
dc.subject	DEBT MANAGEMENT
dc.subject	DEBT SERVICE
dc.subject	DEBT SERVICE PAYMENTS
dc.subject	DEBT SUSTAINABILITY
dc.subject	EARLY RETIREMENTS
dc.subject	ECONOMIC DOWNTURN
dc.subject	ECONOMIC GROWTH
dc.subject	ECONOMIC GROWTH RATE
dc.subject	ECONOMIC RECOVERY
dc.subject	EDUCATION SYSTEM
dc.subject	EDUCATIONAL ATTAINMENT
dc.subject	ENTITLEMENT PROGRAMS
dc.subject	ENTITLEMENTS
dc.subject	EXCHANGE RATE
dc.subject	EXCHANGE RATES
dc.subject	EXPENDITURE CONTROLS
dc.subject	EXPENDITURE OUTCOMES
dc.subject	EXPENDITURES
dc.subject	EXTERNAL ARREARS
dc.subject	EXTERNAL AUDIT
dc.subject	EXTERNAL DEBT
dc.subject	EXTERNAL SHOCKS
dc.subject	FINANCIAL AUDITS
dc.subject	FINANCIAL CRISIS
dc.subject	FINANCIAL PERFORMANCE
dc.subject	FINANCIAL POSITION
dc.subject	FINANCIAL STATEMENTS
dc.subject	FINANCIAL SUPPORT
dc.subject	FISCAL ADJUSTMENT
dc.subject	FISCAL ANALYSIS
dc.subject	FISCAL BALANCE
dc.subject	FISCAL CRISIS
dc.subject	FISCAL FRAMEWORK
dc.subject	FISCAL IMPACT
dc.subject	FISCAL IMPLICATIONS
dc.subject	FISCAL OUTTURN
dc.subject	FISCAL PERFORMANCE
dc.subject	FISCAL POLICY
dc.subject	FISCAL PRESSURE
dc.subject	FISCAL PRESSURES
dc.subject	FISCAL PROBLEMS
dc.subject	FISCAL REFORM
dc.subject	FISCAL RISK
dc.subject	FISCAL RISKS
dc.subject	FISCAL SUSTAINABILITY
dc.subject	FOREIGN CURRENCY
dc.subject	FOREIGN EXCHANGE
dc.subject	GOVERNMENT FINANCE
dc.subject	GOVERNMENT FINANCE STATISTICS
dc.subject	GOVERNMENT GUARANTEE
dc.subject	GOVERNMENT REVENUE
dc.subject	GOVERNMENT REVENUES
dc.subject	GOVERNMENT SPENDING
dc.subject	GROSS DOMESTIC PRODUCT
dc.subject	GROWTH RATE
dc.subject	HARD BUDGET CONSTRAINT
dc.subject	HEALTH CARE
dc.subject	HEALTH CARE SYSTEM
dc.subject	INFLATION
dc.subject	INFLATION RATE
dc.subject	INFLATION RATES
dc.subject	INTEREST PAYMENTS
dc.subject	INTEREST RATE
dc.subject	MACROECONOMIC FRAMEWORK
dc.subject	MACROECONOMIC INDICATORS
dc.subject	MACROECONOMIC MODEL
dc.subject	MACROECONOMIC PROJECTIONS
dc.subject	MACROECONOMIC SITUATION
dc.subject	MACROECONOMIC STABILIZATION
dc.subject	MINISTRY OF FINANCE
dc.subject	MONETARY DATA
dc.subject	MONETARY POLICY
dc.subject	MONITOR COMPLIANCE
dc.subject	MONTHLY RELEASE SYSTEM
dc.subject	NATIONAL ACCOUNTING
dc.subject	NATIONAL INCOME
dc.subject	NATIONAL SAVINGS
dc.subject	NET LENDING
dc.subject	PENSION FUND
dc.subject	PERFORMANCE AUDITS
dc.subject	PERFORMANCE MONITORING
dc.subject	PERFORMANCE MONITORING SYSTEM
dc.subject	PERSONAL INCOME
dc.subject	PERSONAL INCOME TAX
dc.subject	POVERTY IMPACT
dc.subject	POVERTY REDUCTION
dc.subject	PRIVATE FIRMS
dc.subject	PRIVATE PROVIDERS
dc.subject	PRIVATE SECTOR
dc.subject	PUBLIC ACCOUNTS
dc.subject	PUBLIC ADMINISTRATION
dc.subject	PUBLIC AGENCIES
dc.subject	PUBLIC DEBT
dc.subject	PUBLIC ENTERPRISE
dc.subject	PUBLIC ENTERPRISE REFORM
dc.subject	PUBLIC ENTERPRISES
dc.subject	PUBLIC ENTITIES
dc.subject	PUBLIC EXPENDITURE
dc.subject	PUBLIC EXPENDITURE REVIEW
dc.subject	PUBLIC EXPENDITURES
dc.subject	PUBLIC FINANCIAL MANAGEMENT
dc.subject	PUBLIC PROCUREMENT
dc.subject	PUBLIC SECTOR
dc.subject	PUBLIC SECTOR ACCOUNTING
dc.subject	PUBLIC SECTOR EMPLOYMENT
dc.subject	PUBLIC SECTOR ENTITIES
dc.subject	PUBLIC SPENDING
dc.subject	PUBLIC TRANSPORT
dc.subject	PUBLIC TRANSPORTATION
dc.subject	PUBLIC UTILITIES
dc.subject	QUALITY ASSURANCE
dc.subject	QUALITY OF SERVICES
dc.subject	RED TAPE
dc.subject	REFORM AGENDA
dc.subject	REFORM PROCESS
dc.subject	REFORM PROGRAM
dc.subject	REVENUE FORECASTING
dc.subject	REVENUE PROJECTIONS
dc.subject	SALES TAX
dc.subject	SERVICE DELIVERY
dc.subject	SHORT-TERM INTEREST RATES
dc.subject	SIZE OF GOVERNMENT
dc.subject	SOCIAL ASSISTANCE
dc.subject	SOCIAL PROGRAMS
dc.subject	SOCIAL PROTECTION
dc.subject	SOCIAL SECURITY
dc.subject	SOCIAL SECURITY CONTRIBUTIONS
dc.subject	SOCIAL SECURITY SYSTEM
dc.subject	SOCIAL WELFARE
dc.subject	STRUCTURAL REFORM
dc.subject	STRUCTURAL REFORMS
dc.subject	SUSTAINABILITY ANALYSIS
dc.subject	TAX ADMINISTRATION
dc.subject	TAX BASE
dc.subject	TAX BURDEN
dc.subject	TAX INCENTIVES
dc.subject	TAX POLICY
dc.subject	TAX RATE
dc.subject	TAX REFORM
dc.subject	TAX REVENUES
dc.subject	TAX SYSTEM
dc.subject	TAXABLE INCOME
dc.subject	TOTAL EXPENDITURE
dc.subject	TOTAL EXPENDITURES
dc.subject	TOTAL SPENDING
dc.subject	TRANSFER PAYMENT
dc.subject	TRANSPARENCY
dc.subject	VOUCHER SYSTEM
dc.subject	WELFARE PROGRAM
dc.title	Seychelles - Selected Issues : Social Protection, Labor Market and Public Enterprise Reforms - Public Expenditure Review 2
dc.type	Economic & Sector Work :: Public Expenditure Review
dc.coverage	Africa
dc.coverage	Sub-Saharan Africa
dc.coverage	East Africa
dc.coverage	Seychelles