The IMF gives a good rating
“The Seychelles government has made impressive progress in implementing a program supported by the International Monetary Fund and restoring macroeconomic balances”, declared the head of a donor mission in the archipelago at the beginning of November. The IMF is currently supporting Seychelles' economic reform program with $107 million in financing. “Post-pandemic economic recovery expected to be V-shaped and driven by tourism, a poursuivi Boriana Yontcheva. Since July 2021, tourist arrivals continued at a strong pace and real GDP growth is expected to be around 6% in 2021, in accordance with expectations ». The budget deficit figure for 2021 has been revised downwards, of 9,1% to 6,6%, thanks to higher than expected revenue inflows.
However, the country must face rising prices. Side effects of exchange rate depreciation in 2020, combined with pandemic-related cost increases, have contributed to inflationary pressure in recent months. Average annual inflation expected to reach 10% in 2021, against 1,2% in 2020.
Cruises resume
The port of Victoria welcomed its first liner on November 17 since March 2020 and the closure of the borders. This is Bellot, from the French company Ponant, with 140 cruise passengers on board. It will remain in Seychelles waters for several weeks and will sail between the islands of the archipelago. As required by the health standards issued by Seychelles, all passengers are vaccinated against Covid-19 and only ships carrying fewer than 300 passengers are accepted.
Port Victoria welcomed 39 cruise ship calls during the 2019-2020 season, with a total of 63,442 passengers.
