Seychelles - Public Expenditure Review
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 macroe...
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| Format: | Public Expenditure Review |
| Language: | English |
| Published: |
World Bank
2012
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| Online Access: | 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 http://hdl.handle.net/10986/3089 |
| id |
okr-10986-3089 |
|---|---|
| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ACCOUNTABILITY ADMINISTRATIVE COSTS AGGREGATE FISCAL ANNUAL REVENUE BEST PRACTICE BUDGET CREDIBILITY BUDGET DEFICITS BUDGET DEPARTMENT BUDGET EXECUTION BUDGET FRAMEWORK BUDGET MANAGEMENT BUDGET OUTCOME BUDGET PRACTICES BUDGET PREPARATION BUDGET PROCESS BUDGET SURPLUS BUDGET TRANSFERS BUSINESS COMMUNITY CAPITAL EXPENDITURES CAPITAL SPENDING CASH BASIS CENTRAL BUDGET CENTRAL GOVERNMENT CENTRAL GOVERNMENT SPENDING CIVIL SERVICE CIVIL SERVICE REFORM CIVIL SERVICE REFORMS COMMODITIES COMMODITY PRICES COMMUNITY DEVELOPMENT COMPETITIVE ENVIRONMENT CONTINGENCY CONTINGENT LIABILITIES COST-RECOVERY CREDIT RATING CREDITORS DEBT CRISIS DEBT INTEREST DEBT RELIEF DEBT SERVICE DEBT SERVICE PAYMENTS DEBT SERVICING DOMESTIC DEBT DOMESTIC INTEREST RATES DOMESTIC REVENUE ECONOMIC CLASSIFICATION ECONOMIC DEVELOPMENTS ECONOMIC DOWNTURN ECONOMIC GROWTH ECONOMIC MANAGEMENT EDUCATION SERVICES EDUCATION SPENDING EFFICIENCY GAINS EFFICIENCY IMPROVEMENTS EXCHANGE RATE EXCHANGE RESERVES EXPENDITURE MANAGEMENT EXTERNAL DEBT EXTERNAL IMBALANCES EXTERNAL SHOCKS FINANCIAL INSTITUTIONS FINANCIAL SECTOR FINANCIAL SECTORS FINANCIAL SUPPORT FINANCIAL TRANSFERS FISCAL ADJUSTMENT FISCAL BALANCE FISCAL CONSOLIDATION FISCAL COST FISCAL COSTS FISCAL DISCIPLINE FISCAL FRAMEWORK FISCAL IMBALANCES FISCAL IMPACT FISCAL IMPLICATIONS FISCAL OUTTURN FISCAL POLICY FISCAL REFORMS FISCAL SAVINGS FISCAL SCENARIOS FISCAL SIDE FISCAL SUSTAINABILITY FISCAL TARGET FISCAL TARGETS FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN RESERVES FULL EMPLOYMENT GOVERNMENT BUDGET GOVERNMENT CONSUMPTION GOVERNMENT EMPLOYMENT GOVERNMENT EXPENDITURES GOVERNMENT FINANCE GOVERNMENT FINANCE STATISTICS GOVERNMENT REVENUES HEALTH CARE HEALTH EXPENDITURES HEALTH INSURANCE HEALTH INSURANCE FUNDS HEALTH OUTCOMES HEALTH SECTOR HEALTH SERVICES HEALTH SPENDING HIGHER INFLATION IMPORT DUTIES INFLATION INTEREST INCOME INTEREST PAYMENTS INTEREST RATE INVESTMENT CLIMATE INVESTMENT CLIMATE ASSESSMENT LABOR MARKETS LEVEL OF EDUCATION LIQUIDITY MACROECONOMIC ENVIRONMENT MACROECONOMIC FORECASTS MACROECONOMIC INDICATORS MACROECONOMIC MODEL MACROECONOMIC SITUATION MACROECONOMIC STABILITY MACROECONOMIC STABILIZATION MEDIUM-TERM EXPENDITURE MEDIUM-TERM OUTLOOK MONETARY POLICY NATIONAL DEVELOPMENT NATIONAL INCOME NATIONAL SAVINGS NATIONAL STATISTICS NET LENDING PAYROLL TAXES POOR CREDIT POVERTY PROFILE POVERTY REDUCTION PRIMARY EDUCATION PRIVATE ENTERPRISES PRIVATE GOODS PRIVATE INSURANCE PRIVATE SECTOR PRODUCTIVITY PROGRAMS PUBLIC ADMINISTRATION PUBLIC DEBT PUBLIC EDUCATION PUBLIC EMPLOYMENT PUBLIC ENTERPRISE PUBLIC ENTERPRISE REFORM PUBLIC ENTERPRISES PUBLIC ENTITIES PUBLIC EXPENDITURE PUBLIC EXPENDITURE REVIEW PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC FINANCES PUBLIC FINANCIAL MANAGEMENT PUBLIC HEALTH PUBLIC HEALTH SERVICES PUBLIC HOSPITALS PUBLIC PROVISION PUBLIC SECTOR PUBLIC SECTOR EMPLOYMENT PUBLIC SECTOR REFORM PUBLIC SECTOR SERVICE DELIVERY PUBLIC SECTOR SPECIALIST PUBLIC SERVICE PUBLIC SPENDING PUBLIC TRANSPORT PUBLIC TRANSPORTATION PUBLIC UTILITIES RECESSION REFORM EFFORTS REFORM PROCESS REFORM PROGRAM REFORM STRATEGY RESPONSIBILITIES SAFETY NET SALARIES SALES TAX SECONDARY SCHOOL SECTOR BUDGET SENIOR SERVICE EMPLOYMENT SERVICE PROVIDER SERVICE PROVISION SICK LEAVE SOCIAL PROGRAMS SOCIAL SECURITY SOCIAL SECURITY BENEFITS SOCIAL SECURITY CONTRIBUTIONS SOCIAL SECURITY REFORM SOCIAL SECURITY SYSTEM SOCIAL WELFARE STATE ENTERPRISES STRUCTURAL REFORMS TAX ADMINISTRATION TAX BASE TAX COLLECTION TAX COLLECTIONS TAX POLICY TAX RATES TAX REVENUE TAX REVENUES TOTAL EXPENDITURE TRANSPARENCY UNEMPLOYMENT WAGE WAGES |
| spellingShingle |
ACCOUNTABILITY ADMINISTRATIVE COSTS AGGREGATE FISCAL ANNUAL REVENUE BEST PRACTICE BUDGET CREDIBILITY BUDGET DEFICITS BUDGET DEPARTMENT BUDGET EXECUTION BUDGET FRAMEWORK BUDGET MANAGEMENT BUDGET OUTCOME BUDGET PRACTICES BUDGET PREPARATION BUDGET PROCESS BUDGET SURPLUS BUDGET TRANSFERS BUSINESS COMMUNITY CAPITAL EXPENDITURES CAPITAL SPENDING CASH BASIS CENTRAL BUDGET CENTRAL GOVERNMENT CENTRAL GOVERNMENT SPENDING CIVIL SERVICE CIVIL SERVICE REFORM CIVIL SERVICE REFORMS COMMODITIES COMMODITY PRICES COMMUNITY DEVELOPMENT COMPETITIVE ENVIRONMENT CONTINGENCY CONTINGENT LIABILITIES COST-RECOVERY CREDIT RATING CREDITORS DEBT CRISIS DEBT INTEREST DEBT RELIEF DEBT SERVICE DEBT SERVICE PAYMENTS DEBT SERVICING DOMESTIC DEBT DOMESTIC INTEREST RATES DOMESTIC REVENUE ECONOMIC CLASSIFICATION ECONOMIC DEVELOPMENTS ECONOMIC DOWNTURN ECONOMIC GROWTH ECONOMIC MANAGEMENT EDUCATION SERVICES EDUCATION SPENDING EFFICIENCY GAINS EFFICIENCY IMPROVEMENTS EXCHANGE RATE EXCHANGE RESERVES EXPENDITURE MANAGEMENT EXTERNAL DEBT EXTERNAL IMBALANCES EXTERNAL SHOCKS FINANCIAL INSTITUTIONS FINANCIAL SECTOR FINANCIAL SECTORS FINANCIAL SUPPORT FINANCIAL TRANSFERS FISCAL ADJUSTMENT FISCAL BALANCE FISCAL CONSOLIDATION FISCAL COST FISCAL COSTS FISCAL DISCIPLINE FISCAL FRAMEWORK FISCAL IMBALANCES FISCAL IMPACT FISCAL IMPLICATIONS FISCAL OUTTURN FISCAL POLICY FISCAL REFORMS FISCAL SAVINGS FISCAL SCENARIOS FISCAL SIDE FISCAL SUSTAINABILITY FISCAL TARGET FISCAL TARGETS FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN RESERVES FULL EMPLOYMENT GOVERNMENT BUDGET GOVERNMENT CONSUMPTION GOVERNMENT EMPLOYMENT GOVERNMENT EXPENDITURES GOVERNMENT FINANCE GOVERNMENT FINANCE STATISTICS GOVERNMENT REVENUES HEALTH CARE HEALTH EXPENDITURES HEALTH INSURANCE HEALTH INSURANCE FUNDS HEALTH OUTCOMES HEALTH SECTOR HEALTH SERVICES HEALTH SPENDING HIGHER INFLATION IMPORT DUTIES INFLATION INTEREST INCOME INTEREST PAYMENTS INTEREST RATE INVESTMENT CLIMATE INVESTMENT CLIMATE ASSESSMENT LABOR MARKETS LEVEL OF EDUCATION LIQUIDITY MACROECONOMIC ENVIRONMENT MACROECONOMIC FORECASTS MACROECONOMIC INDICATORS MACROECONOMIC MODEL MACROECONOMIC SITUATION MACROECONOMIC STABILITY MACROECONOMIC STABILIZATION MEDIUM-TERM EXPENDITURE MEDIUM-TERM OUTLOOK MONETARY POLICY NATIONAL DEVELOPMENT NATIONAL INCOME NATIONAL SAVINGS NATIONAL STATISTICS NET LENDING PAYROLL TAXES POOR CREDIT POVERTY PROFILE POVERTY REDUCTION PRIMARY EDUCATION PRIVATE ENTERPRISES PRIVATE GOODS PRIVATE INSURANCE PRIVATE SECTOR PRODUCTIVITY PROGRAMS PUBLIC ADMINISTRATION PUBLIC DEBT PUBLIC EDUCATION PUBLIC EMPLOYMENT PUBLIC ENTERPRISE PUBLIC ENTERPRISE REFORM PUBLIC ENTERPRISES PUBLIC ENTITIES PUBLIC EXPENDITURE PUBLIC EXPENDITURE REVIEW PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC FINANCES PUBLIC FINANCIAL MANAGEMENT PUBLIC HEALTH PUBLIC HEALTH SERVICES PUBLIC HOSPITALS PUBLIC PROVISION PUBLIC SECTOR PUBLIC SECTOR EMPLOYMENT PUBLIC SECTOR REFORM PUBLIC SECTOR SERVICE DELIVERY PUBLIC SECTOR SPECIALIST PUBLIC SERVICE PUBLIC SPENDING PUBLIC TRANSPORT PUBLIC TRANSPORTATION PUBLIC UTILITIES RECESSION REFORM EFFORTS REFORM PROCESS REFORM PROGRAM REFORM STRATEGY RESPONSIBILITIES SAFETY NET SALARIES SALES TAX SECONDARY SCHOOL SECTOR BUDGET SENIOR SERVICE EMPLOYMENT SERVICE PROVIDER SERVICE PROVISION SICK LEAVE SOCIAL PROGRAMS SOCIAL SECURITY SOCIAL SECURITY BENEFITS SOCIAL SECURITY CONTRIBUTIONS SOCIAL SECURITY REFORM SOCIAL SECURITY SYSTEM SOCIAL WELFARE STATE ENTERPRISES STRUCTURAL REFORMS TAX ADMINISTRATION TAX BASE TAX COLLECTION TAX COLLECTIONS TAX POLICY TAX RATES TAX REVENUE TAX REVENUES TOTAL EXPENDITURE TRANSPARENCY UNEMPLOYMENT WAGE WAGES World Bank Seychelles - Public Expenditure Review |
| geographic_facet |
Africa Sub-Saharan Africa East Africa Seychelles |
| 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. |
| format |
Economic & Sector Work :: Public Expenditure Review |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Seychelles - Public Expenditure Review |
| title_short |
Seychelles - Public Expenditure Review |
| title_full |
Seychelles - Public Expenditure Review |
| title_fullStr |
Seychelles - Public Expenditure Review |
| title_full_unstemmed |
Seychelles - Public Expenditure Review |
| title_sort |
seychelles - public expenditure review |
| publisher |
World Bank |
| publishDate |
2012 |
| url |
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 http://hdl.handle.net/10986/3089 |
| _version_ |
1764386447485304832 |
| spelling |
okr-10986-30892021-04-23T14:02:06Z Seychelles - Public Expenditure Review World Bank ACCOUNTABILITY ADMINISTRATIVE COSTS AGGREGATE FISCAL ANNUAL REVENUE BEST PRACTICE BUDGET CREDIBILITY BUDGET DEFICITS BUDGET DEPARTMENT BUDGET EXECUTION BUDGET FRAMEWORK BUDGET MANAGEMENT BUDGET OUTCOME BUDGET PRACTICES BUDGET PREPARATION BUDGET PROCESS BUDGET SURPLUS BUDGET TRANSFERS BUSINESS COMMUNITY CAPITAL EXPENDITURES CAPITAL SPENDING CASH BASIS CENTRAL BUDGET CENTRAL GOVERNMENT CENTRAL GOVERNMENT SPENDING CIVIL SERVICE CIVIL SERVICE REFORM CIVIL SERVICE REFORMS COMMODITIES COMMODITY PRICES COMMUNITY DEVELOPMENT COMPETITIVE ENVIRONMENT CONTINGENCY CONTINGENT LIABILITIES COST-RECOVERY CREDIT RATING CREDITORS DEBT CRISIS DEBT INTEREST DEBT RELIEF DEBT SERVICE DEBT SERVICE PAYMENTS DEBT SERVICING DOMESTIC DEBT DOMESTIC INTEREST RATES DOMESTIC REVENUE ECONOMIC CLASSIFICATION ECONOMIC DEVELOPMENTS ECONOMIC DOWNTURN ECONOMIC GROWTH ECONOMIC MANAGEMENT EDUCATION SERVICES EDUCATION SPENDING EFFICIENCY GAINS EFFICIENCY IMPROVEMENTS EXCHANGE RATE EXCHANGE RESERVES EXPENDITURE MANAGEMENT EXTERNAL DEBT EXTERNAL IMBALANCES EXTERNAL SHOCKS FINANCIAL INSTITUTIONS FINANCIAL SECTOR FINANCIAL SECTORS FINANCIAL SUPPORT FINANCIAL TRANSFERS FISCAL ADJUSTMENT FISCAL BALANCE FISCAL CONSOLIDATION FISCAL COST FISCAL COSTS FISCAL DISCIPLINE FISCAL FRAMEWORK FISCAL IMBALANCES FISCAL IMPACT FISCAL IMPLICATIONS FISCAL OUTTURN FISCAL POLICY FISCAL REFORMS FISCAL SAVINGS FISCAL SCENARIOS FISCAL SIDE FISCAL SUSTAINABILITY FISCAL TARGET FISCAL TARGETS FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN RESERVES FULL EMPLOYMENT GOVERNMENT BUDGET GOVERNMENT CONSUMPTION GOVERNMENT EMPLOYMENT GOVERNMENT EXPENDITURES GOVERNMENT FINANCE GOVERNMENT FINANCE STATISTICS GOVERNMENT REVENUES HEALTH CARE HEALTH EXPENDITURES HEALTH INSURANCE HEALTH INSURANCE FUNDS HEALTH OUTCOMES HEALTH SECTOR HEALTH SERVICES HEALTH SPENDING HIGHER INFLATION IMPORT DUTIES INFLATION INTEREST INCOME INTEREST PAYMENTS INTEREST RATE INVESTMENT CLIMATE INVESTMENT CLIMATE ASSESSMENT LABOR MARKETS LEVEL OF EDUCATION LIQUIDITY MACROECONOMIC ENVIRONMENT MACROECONOMIC FORECASTS MACROECONOMIC INDICATORS MACROECONOMIC MODEL MACROECONOMIC SITUATION MACROECONOMIC STABILITY MACROECONOMIC STABILIZATION MEDIUM-TERM EXPENDITURE MEDIUM-TERM OUTLOOK MONETARY POLICY NATIONAL DEVELOPMENT NATIONAL INCOME NATIONAL SAVINGS NATIONAL STATISTICS NET LENDING PAYROLL TAXES POOR CREDIT POVERTY PROFILE POVERTY REDUCTION PRIMARY EDUCATION PRIVATE ENTERPRISES PRIVATE GOODS PRIVATE INSURANCE PRIVATE SECTOR PRODUCTIVITY PROGRAMS PUBLIC ADMINISTRATION PUBLIC DEBT PUBLIC EDUCATION PUBLIC EMPLOYMENT PUBLIC ENTERPRISE PUBLIC ENTERPRISE REFORM PUBLIC ENTERPRISES PUBLIC ENTITIES PUBLIC EXPENDITURE PUBLIC EXPENDITURE REVIEW PUBLIC EXPENDITURES PUBLIC FINANCE PUBLIC FINANCES PUBLIC FINANCIAL MANAGEMENT PUBLIC HEALTH PUBLIC HEALTH SERVICES PUBLIC HOSPITALS PUBLIC PROVISION PUBLIC SECTOR PUBLIC SECTOR EMPLOYMENT PUBLIC SECTOR REFORM PUBLIC SECTOR SERVICE DELIVERY PUBLIC SECTOR SPECIALIST PUBLIC SERVICE PUBLIC SPENDING PUBLIC TRANSPORT PUBLIC TRANSPORTATION PUBLIC UTILITIES RECESSION REFORM EFFORTS REFORM PROCESS REFORM PROGRAM REFORM STRATEGY RESPONSIBILITIES SAFETY NET SALARIES SALES TAX SECONDARY SCHOOL SECTOR BUDGET SENIOR SERVICE EMPLOYMENT SERVICE PROVIDER SERVICE PROVISION SICK LEAVE SOCIAL PROGRAMS SOCIAL SECURITY SOCIAL SECURITY BENEFITS SOCIAL SECURITY CONTRIBUTIONS SOCIAL SECURITY REFORM SOCIAL SECURITY SYSTEM SOCIAL WELFARE STATE ENTERPRISES STRUCTURAL REFORMS TAX ADMINISTRATION TAX BASE TAX COLLECTION TAX COLLECTIONS TAX POLICY TAX RATES TAX REVENUE TAX REVENUES TOTAL EXPENDITURE TRANSPARENCY UNEMPLOYMENT WAGE WAGES 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. 2012-03-19T17:24:14Z 2012-03-19T17:24:14Z 2009-06-25 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 http://hdl.handle.net/10986/3089 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank Economic & Sector Work :: Public Expenditure Review Africa Sub-Saharan Africa East Africa Seychelles |