The International Monetary Fund (IMF) Staff Mission to Seychelles has concluded, in which the team has assessed that in 2025 ‘real GDP growth (will be) above 4 percent.’
The mission attributed the rise in real GDP growth to the ‘strong tourist activity’ recorded this year with ‘total arrivals expected to exceed the record level set in 2019.’
In a press release issued today, the Mission led by Mr. Todd Schneider said “the IMF mission held productive discussions with the economic team following national elections in October. The staff visit was an opportunity to exchange views on recent economic developments, assess new initiatives under the government’s 100-day agenda, and discuss key elements of the 2026 budget framework.”
The strong tourism performance has resulted in an increase in income from the sector which has strengthened the external current account balance.
“Gross foreign exchange reserves rose to $878 million in November, equivalent to about 4 months of goods and services imports.”
The Mission also determined that in October the consumer price inflation has remained low at 0.3 percent.
“Low food and fuel prices combined with a relatively stable rupee vis-à-vis the dollar will likely keep inflation contained.”
The Mission held discussions with the team from the Ministry of Finance, Economic Planning, Trade and Investment, headed by Minister Pierre Laporte, Central Bank of Seychelles and other key stakeholders.
The IMF Staff team is to return in the first part of 2026 where they will conduct the fifth and sixth reviews under the Extended Fund Facility and Resilience and Sustainability Facility Programs.