National Assembly approves general merit of the Appropriation Bill, 2022

November 18, 2021

The National Assembly has voted on the general merit (second reading) of the Appropriation Bill, 2022. Eighteen MNAs voted in favour.

The vote took place this afternoon, following the closing statement of Minister Naadir Hassan on the budget 2022 debate.

Minister Hassan delivered his 2022 Budget Speech, on 12th November.

Minister Hassan explained that the 2022 budget is the continuation of the 2021 budget, where the government has outlined a clear strategy to deal with the economic crisis our country is experiencing and to rebuild the economy.

“The budget strategy and economic transformation, we want, is clearly outlined in the 2022 budget, which is building on the foundation of the 2021 budget.”

He said without an economic foundation which is solid and fiscal stabilization, there cannot be economic recovery.

He pointed out that government recognises the important role of the private sector as the engine of economic growth, creator of wealth and employment, and that is why focus in the 2022 budget is on giving the sector space to recover and grow.

To note, as of next year, business tax on profits below R1 million is coming down, from 25% to 15%, whereas business tax on profits above R1 million, will be reduced from 30% to 25%.

“When the private sector is doing well, the government will also do well.”

Minister Hassan noted that the 2022 budget is a conservative one, because of uncertainties that still prevail, especially around the COVID 19 pandemic, saying ‘ we are not out of the woods yet. »

He said, the budget will allow the government the fiscal space, to ensure a buffer, in case of a crisis, it will focus on service delivery in the public sector and build an economic transformation for all Seychellois.

“For the economic transformation to succeed, everyone of us, must play our part, because there will be opportunities for all of us.”

The Committee Stage for the 2022 Budget will start on Wednesday 24th November, when ministries, departments and agencies will defend their budget allocation before the National Assembly.

To access Minister Hassan’s speech, click on the links below.

» All news