The Seychelles economy is recovering, uncertainties remain
Seychelles' macroeconomic outlook is favorable, but challenges remain as the fallout from the Russian-Ukrainian conflict is expected to weigh on external and budgetary balances due to a surge in raw material prices, according to the head of the mission organized in Seychelles by the IMF in early May. Boriana Yontcheva noted that the Seychelles economy had recovered strongly in 2021 with real GDP growth estimated at 8%, driven by a rapid rebound in the tourism sector. “Despite the deterioration of the international environment associated with the war in Ukraine, tourism revenue in March 2022 exceeded the 2019 level and GDP growth is expected to reach 7% in 2022 », she also said. “The main risk factor now is the situation in Ukraine, and this can have an impact on the tourism sector as well as the cost of living”, for his part commented Naadir Hassan, the Seychelles Minister of Finance.
Seychelles
