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Public Financial Management consultants to assess Public Expenditure and Financial Accountability

September 28, 2016

A public financial management assessment for Seychelles is being carried out based on the Public Expenditure and Financial Accountability (PEFA) 2016 methodology. The Government core agenda remains focused on having a pertinent and credible plan to improve public finance management. Policy orientation continues to lay emphasis on improving Public Finance Management (PFM) through the Department of Finance & Trade, as a precursor to macroeconomic stability.

The PEFA assessments undertaken in 2008 and 2011 provided an adequate picture of the public finance management situation in Seychelles. Government now wishes to undertake a review of the PEFA in 2016 in order to assess progress in the implementation of its public finance management reforms since 2011. It is to be noted that the 2011 PEFA assessments revealed substantial progress made since 2008. The improvement in the various scorings indicates the bold policy measures taken to improve the strength of the public finance management system in Seychelles.

The PEFA assessment will be financed from the 11th EDF Technical Cooperation Programme (TCF). The objective is to support government to enhance institutional capacities in the identification and implementation of actions in complement with the EU-Seychelles cooperation agenda.

A half-day workshop will be conducted tomorrow, Thursday 29th September 2016, at the STC Conference Room, Latanier Road from 9.00a.m till 12 noon to familiarise the different relevant stakeholders with the principles of the PEFA methodology. The consultants will be meeting with stakeholders involved in PEFA; the Public Enterprise Monitoring Commission, the Auditor General’s Office, and other accounts staff from the line ministries.

The outcome of the PEFA assessment will inform the revision of the PFM Action Plan. To note that the adoption of the revised PFM Action Plan by end 2016 is one of the Structural Benchmarks retained under the IMF extended Arrangement.

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