Minister of Finance Naadir Hassan just unveiled Seychelles’ biggest budget ever, an eye-watering SCR 11.9 billion. With generous salary increases, expanded benefits, and a little something for everyone, it’s easy to feel optimistic. But as we dig into the specifics, some questions come to mind: Are these spending hikes sustainable? And is the focus truly on the areas that need it most?
Salary Increases – A Win for Some, Not for All
A 7% raise for public workers earning less than SCR 21,368 ($1,500) and the same increase on minimum wage might sound like a good start. But let’s talk numbers. For those earning the least, this raise will barely keep up with the rising cost of living. And while those earning above that threshold get a flat SCR 1,500 increase, it’s capped for “sustainability,” according to Hassan. It’s good, but is it enough for Seychellois to feel truly secure amid inflation?
Retirement Benefits: A Step Forward, But Still Room for Debate
The proposed increase in retirement benefits is a welcome move, especially for elderly citizens relying on these funds. The graduated increases—from SCR 5,750 to SCR 6,150 for some, and as high as SCR 7,150 for others—are designed to ease the financial burden on retirees. But in a budget as massive as this, one wonders if it might have been possible to raise these figures a bit more. After all, if we’re aiming for a retirement that doesn’t just “scrape by,” a bit of extra generosity here would go a long way.
Health, Education, and Social Affairs: Are We Hitting the Right Targets?
With the social affairs budget leading the pack at SCR 1.57 billion, followed closely by health at SCR 1.5 billion and education at SCR 1.4 billion, it’s clear that the big spenders here are the sectors that matter most. But will these increases translate into tangible improvements? It’s one thing to allocate funds, and another to see real progress. If we want this budget to truly “ensure the wellbeing of our country,” as Hassan says, then we’ll need strict accountability to make sure these billions are used wisely.
Sporting Events: Big Money, Big Hopes, Big Questions
The government has set aside SCR 40.6 million to host two major sporting events in 2025—the FIFA Beach Soccer World Cup in May and the Indian Ocean Youth and Sport Commission (CJSOI) event in July. As exhilarating as these events may be, we can’t ignore the skepticism from some citizens. Are these sports investments worth the hefty price tag? While the spotlight and potential tourism boost might be beneficial, the returns aren’t guaranteed. And, of course, every seychelle who won’t attend these events may wonder if that money could have been better spent elsewhere.
Fisheries and Agriculture: Welcome Changes, but Not Game-Changers
The new pension scheme for fishers, co-funded by the Seychelles Fishing Authority (SFA) and the European Union, is a commendable step. It’s a voluntary scheme with SFA matching fishers’ 5% contributions, which sounds promising. Still, at SCR 500,000 annually, one has to wonder if the budget could stretch a bit more to support the country’s hardworking fishers.
In agriculture, the raise in loan limits for farmers is another win, doubling the current cap from SCR 350,000 to SCR 850,000 for leasehold land. Expanding the Agricultural Development Fund (ADF) to cover “agro-tourism” and “agro-forestry” projects sounds great on paper, but whether it’ll translate into real support for struggling farmers is the true test.
What’s the Catch?
As much as we’d like to applaud this budget for its ambition and generosity, it does raise a few questions. SCR 11.9 billion is no small sum, and much of it hinges on tax revenue—Hassan projects SCR 9.96 billion from taxes alone. The reliance on such a high level of tax income may place an added burden on citizens if growth doesn’t keep up with these ambitious targets.
And then there’s the matter of accountability. Without proper oversight, even the most well-intentioned allocations could end up benefiting a few instead of the many. Seychelles can’t afford to let this record-breaking budget become a record-breaking burden in the years to come.
A Budget That Dares Us to Dream… Cautiously
Hassan calls this a budget where “our people reap the benefits of our hard work,” and there’s no doubt that there’s something here for everyone. But like every dream, this one comes with a reality check: The 2025 budget is a big, bold vision for Seychelles, and it will take big, bold follow-through to make it work.
So here’s hoping that the government can turn these numbers into something tangible. After all, it’s easy to make promises, but the real test lies in delivery. As the National Assembly debates this historic budget, Seychellois everywhere will be watching closely—because when it comes to a budget this massive, we’re all in the passenger seat.
