Resource information
Since 2008, the Government of Seychelles
has successfully undertaken major reforms to secure
macroeconomic stability and create conditions for
sustainable, private sector-led growth. The continuous
strengthening of Seychelles' public financial
management (PFM) system plays a central role in facilitating
fiscal consolidation and improving the delivery of
government services. Over the past few years, the government
has implemented a series of reforms to address public sector
governance, including: (i) modernizing the public sector and
improving the alignment of institutions with policy and
service delivery mandates; (ii) rolling back the
government's role in commercial activities by reducing
the large number of parastatals, improving management, and
introducing a new wage bill together with the private
sector; and (iii) redefining the accountability structure
between the government agencies responsible for service
delivery. Despite the government's ambitious
macroeconomic reform program and its efforts to strengthen
the PFM system, measures to improve the efficiency of public
investment management (PIM) have received only limited
consideration. Challenges to the efficient use of public
resources hamper the government's ability to meet
urgent social needs and improve access to basic services.
This note aims to provide an objective assessment of the
strengths and weaknesses of Seychelles' PIM system and
to recommend measures for improving the quality of capital spending.
