Seychelles - Public Expenditure Review

World Bank

dc.creator	World Bank
dc.date	2012-03-19T17:24:14Z
dc.date	2012-03-19T17:24:14Z
dc.date	2009-06-25
dc.date.accessioned	2023-02-17T20:47:06Z
dc.date.available	2023-02-17T20:47:06Z
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_20090805012241
dc.identifier	http://hdl.handle.net/10986/3089
dc.identifier.uri	http://localhost:8080/xmlui/handle/CUHPOERS/243427
dc.description	In 2008, after many years of unsustainable fiscal policy and a distorted and overvalued foreign exchange regime, the Government of Seychelles embarked upon a bold economic reform program. This program aims to put the economy on a path toward macroeconomic stability, liberalize the economy and to allow the private sector to take over from the state as the driving force in the economy. Seychelles, a small open, middle-income island state with relatively low incidence of poverty and near full employment, faced acute economic difficulties in 2008 as a result of past economic management exacerbated by the rising global oil and food prices and the downturn in the global economy. This resulted in missed debt-service payments and the subsequent downgrading of its credit rating by standard and poor's. Faced with current debt service difficulties and a historically poor credit track record, the authorities responded quickly by adopting a comprehensive reform program supported by a second year stand by arrangement with the International Monetary Fund (IMF) and commencing negotiations with Paris club and other private and official creditors for debt restructuring. The government has embarked upon a comprehensive reform strategy aimed at restoring internal and external balances with the assistance of the international financial institutions and development partners. The reform program includes: (i) the complete liberalization of the exchange rate regime and float of the currency (which was introduced in November 2008); and (ii) tightened fiscal policy, including improved targeting of the comprehensive social safety net and a privatization program to deal with the many state-owned enterprises. The focus of the public expenditure review (PER) reflects the fact that revisiting the role and functions of government lie at the heart of the economic reforms that need to take place in the next two years. This chapter provides a survey of recent developments, medium-term macroeconomic developments and their fiscal policy implications. Chapter two examines public expenditure trends and budget management issues. Chapters three, four, and five examine civil service reform, health care, and education issues respectively.
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	ADMINISTRATIVE COSTS
dc.subject	AGGREGATE FISCAL
dc.subject	ANNUAL REVENUE
dc.subject	BEST PRACTICE
dc.subject	BUDGET CREDIBILITY
dc.subject	BUDGET DEFICITS
dc.subject	BUDGET DEPARTMENT
dc.subject	BUDGET EXECUTION
dc.subject	BUDGET FRAMEWORK
dc.subject	BUDGET MANAGEMENT
dc.subject	BUDGET OUTCOME
dc.subject	BUDGET PRACTICES
dc.subject	BUDGET PREPARATION
dc.subject	BUDGET PROCESS
dc.subject	BUDGET SURPLUS
dc.subject	BUDGET TRANSFERS
dc.subject	BUSINESS COMMUNITY
dc.subject	CAPITAL EXPENDITURES
dc.subject	CAPITAL SPENDING
dc.subject	CASH BASIS
dc.subject	CENTRAL BUDGET
dc.subject	CENTRAL GOVERNMENT
dc.subject	CENTRAL GOVERNMENT SPENDING
dc.subject	CIVIL SERVICE
dc.subject	CIVIL SERVICE REFORM
dc.subject	CIVIL SERVICE REFORMS
dc.subject	COMMODITIES
dc.subject	COMMODITY PRICES
dc.subject	COMMUNITY DEVELOPMENT
dc.subject	COMPETITIVE ENVIRONMENT
dc.subject	CONTINGENCY
dc.subject	CONTINGENT LIABILITIES
dc.subject	COST-RECOVERY
dc.subject	CREDIT RATING
dc.subject	CREDITORS
dc.subject	DEBT CRISIS
dc.subject	DEBT INTEREST
dc.subject	DEBT RELIEF
dc.subject	DEBT SERVICE
dc.subject	DEBT SERVICE PAYMENTS
dc.subject	DEBT SERVICING
dc.subject	DOMESTIC DEBT
dc.subject	DOMESTIC INTEREST RATES
dc.subject	DOMESTIC REVENUE
dc.subject	ECONOMIC CLASSIFICATION
dc.subject	ECONOMIC DEVELOPMENTS
dc.subject	ECONOMIC DOWNTURN
dc.subject	ECONOMIC GROWTH
dc.subject	ECONOMIC MANAGEMENT
dc.subject	EDUCATION SERVICES
dc.subject	EDUCATION SPENDING
dc.subject	EFFICIENCY GAINS
dc.subject	EFFICIENCY IMPROVEMENTS
dc.subject	EXCHANGE RATE
dc.subject	EXCHANGE RESERVES
dc.subject	EXPENDITURE MANAGEMENT
dc.subject	EXTERNAL DEBT
dc.subject	EXTERNAL IMBALANCES
dc.subject	EXTERNAL SHOCKS
dc.subject	FINANCIAL INSTITUTIONS
dc.subject	FINANCIAL SECTOR
dc.subject	FINANCIAL SECTORS
dc.subject	FINANCIAL SUPPORT
dc.subject	FINANCIAL TRANSFERS
dc.subject	FISCAL ADJUSTMENT
dc.subject	FISCAL BALANCE
dc.subject	FISCAL CONSOLIDATION
dc.subject	FISCAL COST
dc.subject	FISCAL COSTS
dc.subject	FISCAL DISCIPLINE
dc.subject	FISCAL FRAMEWORK
dc.subject	FISCAL IMBALANCES
dc.subject	FISCAL IMPACT
dc.subject	FISCAL IMPLICATIONS
dc.subject	FISCAL OUTTURN
dc.subject	FISCAL POLICY
dc.subject	FISCAL REFORMS
dc.subject	FISCAL SAVINGS
dc.subject	FISCAL SCENARIOS
dc.subject	FISCAL SIDE
dc.subject	FISCAL SUSTAINABILITY
dc.subject	FISCAL TARGET
dc.subject	FISCAL TARGETS
dc.subject	FOREIGN CURRENCY
dc.subject	FOREIGN EXCHANGE
dc.subject	FOREIGN RESERVES
dc.subject	FULL EMPLOYMENT
dc.subject	GOVERNMENT BUDGET
dc.subject	GOVERNMENT CONSUMPTION
dc.subject	GOVERNMENT EMPLOYMENT
dc.subject	GOVERNMENT EXPENDITURES
dc.subject	GOVERNMENT FINANCE
dc.subject	GOVERNMENT FINANCE STATISTICS
dc.subject	GOVERNMENT REVENUES
dc.subject	HEALTH CARE
dc.subject	HEALTH EXPENDITURES
dc.subject	HEALTH INSURANCE
dc.subject	HEALTH INSURANCE FUNDS
dc.subject	HEALTH OUTCOMES
dc.subject	HEALTH SECTOR
dc.subject	HEALTH SERVICES
dc.subject	HEALTH SPENDING
dc.subject	HIGHER INFLATION
dc.subject	IMPORT DUTIES
dc.subject	INFLATION
dc.subject	INTEREST INCOME
dc.subject	INTEREST PAYMENTS
dc.subject	INTEREST RATE
dc.subject	INVESTMENT CLIMATE
dc.subject	INVESTMENT CLIMATE ASSESSMENT
dc.subject	LABOR MARKETS
dc.subject	LEVEL OF EDUCATION
dc.subject	LIQUIDITY
dc.subject	MACROECONOMIC ENVIRONMENT
dc.subject	MACROECONOMIC FORECASTS
dc.subject	MACROECONOMIC INDICATORS
dc.subject	MACROECONOMIC MODEL
dc.subject	MACROECONOMIC SITUATION
dc.subject	MACROECONOMIC STABILITY
dc.subject	MACROECONOMIC STABILIZATION
dc.subject	MEDIUM-TERM EXPENDITURE
dc.subject	MEDIUM-TERM OUTLOOK
dc.subject	MONETARY POLICY
dc.subject	NATIONAL DEVELOPMENT
dc.subject	NATIONAL INCOME
dc.subject	NATIONAL SAVINGS
dc.subject	NATIONAL STATISTICS
dc.subject	NET LENDING
dc.subject	PAYROLL TAXES
dc.subject	POOR CREDIT
dc.subject	POVERTY PROFILE
dc.subject	POVERTY REDUCTION
dc.subject	PRIMARY EDUCATION
dc.subject	PRIVATE ENTERPRISES
dc.subject	PRIVATE GOODS
dc.subject	PRIVATE INSURANCE
dc.subject	PRIVATE SECTOR
dc.subject	PRODUCTIVITY
dc.subject	PROGRAMS
dc.subject	PUBLIC ADMINISTRATION
dc.subject	PUBLIC DEBT
dc.subject	PUBLIC EDUCATION
dc.subject	PUBLIC EMPLOYMENT
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 FINANCE
dc.subject	PUBLIC FINANCES
dc.subject	PUBLIC FINANCIAL MANAGEMENT
dc.subject	PUBLIC HEALTH
dc.subject	PUBLIC HEALTH SERVICES
dc.subject	PUBLIC HOSPITALS
dc.subject	PUBLIC PROVISION
dc.subject	PUBLIC SECTOR
dc.subject	PUBLIC SECTOR EMPLOYMENT
dc.subject	PUBLIC SECTOR REFORM
dc.subject	PUBLIC SECTOR SERVICE DELIVERY
dc.subject	PUBLIC SECTOR SPECIALIST
dc.subject	PUBLIC SERVICE
dc.subject	PUBLIC SPENDING
dc.subject	PUBLIC TRANSPORT
dc.subject	PUBLIC TRANSPORTATION
dc.subject	PUBLIC UTILITIES
dc.subject	RECESSION
dc.subject	REFORM EFFORTS
dc.subject	REFORM PROCESS
dc.subject	REFORM PROGRAM
dc.subject	REFORM STRATEGY
dc.subject	RESPONSIBILITIES
dc.subject	SAFETY NET
dc.subject	SALARIES
dc.subject	SALES TAX
dc.subject	SECONDARY SCHOOL
dc.subject	SECTOR BUDGET
dc.subject	SENIOR
dc.subject	SERVICE EMPLOYMENT
dc.subject	SERVICE PROVIDER
dc.subject	SERVICE PROVISION
dc.subject	SICK LEAVE
dc.subject	SOCIAL PROGRAMS
dc.subject	SOCIAL SECURITY
dc.subject	SOCIAL SECURITY BENEFITS
dc.subject	SOCIAL SECURITY CONTRIBUTIONS
dc.subject	SOCIAL SECURITY REFORM
dc.subject	SOCIAL SECURITY SYSTEM
dc.subject	SOCIAL WELFARE
dc.subject	STATE ENTERPRISES
dc.subject	STRUCTURAL REFORMS
dc.subject	TAX ADMINISTRATION
dc.subject	TAX BASE
dc.subject	TAX COLLECTION
dc.subject	TAX COLLECTIONS
dc.subject	TAX POLICY
dc.subject	TAX RATES
dc.subject	TAX REVENUE
dc.subject	TAX REVENUES
dc.subject	TOTAL EXPENDITURE
dc.subject	TRANSPARENCY
dc.subject	UNEMPLOYMENT
dc.subject	WAGE
dc.subject	WAGES
dc.title	Seychelles - Public Expenditure Review
dc.type	Economic & Sector Work :: Public Expenditure Review
dc.coverage	Africa
dc.coverage	Sub-Saharan Africa
dc.coverage	East Africa
dc.coverage	Seychelles