Minister Hassan delivers the 2025 Budget Speech
November 01, 2024
The Minister for Finance, National Planning and Trade, Naadir Hassan, presented the 2025 budget speech before the National Assembly on Thursday 31st October.
The total sum to be appropriated for next year is SR 11,901,621,045, the largest budget in our history. Our total revenue, including grants, is projected at SR 12.2 billion, equivalent to 36.8% of our GDP.
In his speech, Minister Hassan gave an overview of the economic and financial situation of the country when the new administration was first elected in October 2020. The economy was in recession and government finances in dire.
“Today, however, we are in a situation to present the largest budget in the history of Seychelles. Mr. Speaker, this has happened in less than five years. It is a budget whereby our people reap the benefits of our hard work and provides funding for investing in economic and social infrastructures that will ensure the wellbeing of our country for years and decades to come. This Mr. Speaker, can only happen when there is a responsible government with a strategic plan. More importantly, a government that firmly believes in the ability of its technicians to deliver.”
The major measures to be implemented in 2025 are;
- Increment in salary by 7% for public service
- Increase in Minimum Wage
- Increase in Social Benefits for pensioners, people living with a disability and invalidity
- Increase in post-secondary students allowances
- Increase in passenger allowance when entering with goods in the country
- Increase and introduction of new facilities by HFC to support those wanting to build and repair their homes
- Improvement in the PV Scheme for residential homes and small/medium businesses
- Increase spending in infrastructure development
- The Autism Center will fall under the aegis of the Ministry of Education and a budget of SR 4.1 million has been allocated
- Increase funding in adaptation and mitigation due to the adverse effect of climate change
- Revision in the Agriculture Development Fund to make it more accessible for farmers
In his conclusion, Minister Hassan once again reiterated that the government will continue to be guided by responsible and discipline fiscal policies, thus allowing the economy to continue to grow.
“I can tell Seychellois that the 2025 Budget is a positive one, addressing and impacting all sectors of our society. The 2025 Budget is proof that the government has a clear, realistic strategy and knows what it is doing. As a nation, we need to continue on this positive.”
http://www.finance.gov.sc/uploads/national_budget/2025%20Budget%20Speech.pdf
http://www.finance.gov.sc/uploads/national_budget/Ladres-Bidze-2025.pdf