The Seychelles 2025 Budget, proposed at SCR 11.9 billion ($880 million), faces scrutiny from the opposition, labeling it an election budget filled with unfulfilled promises amidst economic challenges. While the government’s leader defends it as a response to economic improvement and public needs, concerns persist regarding the viability of its funding, particularly with declining tourism revenue.

On November 5, 2024, the discussions surrounding the proposed 2025 Budget of SCR 11.9 billion ($880 million) unfolded in the National Assembly of Seychelles. Minister of Finance, Naadir Hassan, presented this budget—the largest in the nation’s history—and sought its approval amidst mixed reactions. Opposition Leader Sebastien Pillay criticized the budget as an election-driven proposal, asserting it contained empty promises without actionable solutions for the cost of living crisis or a strategy for stimulating economic growth. He expressed concern over falling tourism revenues and questioned the government’s financial strategy to support the ambitious budget proposals. Conversely, the Leader of Government Business, Bernard Georges, defended the budget, citing improvements in the economic situation and a forecasted fiscal surplus for 2024. He indicated that the budget includes provisions benefitting the general public, such as a proposed 7 percent salary increase for public servants. Georges mentioned various measures aimed at enhancing the living standards of Seychellois while emphasizing the government’s commitment to addressing the demands of the populace through new initiatives.

The 2025 Budget proposal is significant as it marks the largest financial plan in Seychelles’ history. This budget is being debated in the context of upcoming presidential and parliamentary elections in September 2025, influencing its perception as politically motivated. Economic challenges, particularly in the tourism sector, raise questions about the sustainability of the proposed budget and the government’s approach to tackling cost-of-living issues. The responses from both the opposition and government leaders highlight contrasting perspectives on fiscal responsibility and economic strategy.

The budget discussions in Seychelles underscore a critical juncture in the nation’s economic trajectory, revealing deep divides between the governing party and the opposition regarding fiscal strategy and economic health. While the government touts budgetary surplus and public benefit initiatives, the opposition cautions against potential electoral motivations and calls for greater accountability in addressing pressing socioeconomic challenges. The nuanced debate reflects the complexity of navigating economic recovery amid political considerations, as the nation approaches its electoral cycle.

Original Source: www.seychellesnewsagency.com

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