'The ABLA African Minister Award nomination is a recognition for all staff of the Ministry', says Minister Hassan
May 30, 2022
Minister Naadir Hassan has been nominated for the African Finance Minister of the year award, by the African Business Leadership Magazine.
According to the magazine, the award recognises an outstanding finance minister who through strong fiscal policies, has enhanced the national economic outlook and supported the growth of businesses despite looming challenges.
Minister Hassan, took over the helm of the Ministry of Finance, National Planning in November 2020, at the height of the COVID 19 pandemic, when the country was under lock down.
At the time, Seychelles had recorded an economic contraction of nearly 8%, the budget deficit was at 15.4% GDP and the debt to GDP ratio stood at 93%.
In a bid to kick start the economy, the government in January 2021, launched that national vaccination programme against COVID 19 and in March reopened to country's border to tourists.
After, months of negotiations, in July 2021, the government of Seychelles and the International Monetary Fund, signed an agreement under the Extended Fund Facility (EFF) Arrangement, in which the IMF is financially supporting the country's economic reform programme.
So far, 2 reviews under the EFF, have been conducted. The last, was between April and May, whereby the head of the IMF mission, Ms. Boriana Yontcheva, described the economic progress made so far, as 'impressive'.
After the May review,the economic recovery was as followed:
In 2021, Seychelles witnessed an economic growth of 8% and the projected growth for 2022 is 7%. On the budget side, in 2021, the primary fiscal deficit was only 3%, over performing the programme’s target of 3.3%. Additionally, the country’s debt is at 76% GDP and by 2025/2026, the projected debt ratio is expected to be below 50%.
Minister Hassan has pointed out that this nomination, goes to all staff of the Ministry of Finance, National Planning and Trade."While, this is only a nomination, just the fact, that Seychelles is nominated, it is a huge recognition of the hard work, we have all accomplished and are still working towards. These past few years, have been unprecedented, yet, what we have also achieved during this same period, have been extraordinary. Our hard work, professionalism and abilities, as a Ministry, are being acknowledged beyond our borders. Win or lose, the nomination, is one which we all should enjoy, and be part of."
It is members of the public, who vote for the nominees. Deadline to vote is Friday 03rd June, 2022.
The winners of the 13 categories, will be announced on Monday 06th June, 2022.
Below is the link to vote;
https://www.africanleadershipmagazine.co.uk/african-business-leadership-awards-2022/