Seychelles Records Strong Mid-Year Budget Performance Says Finance Minister
VICTORIA, Seychelles — Finance Minister Pierre Laporte has told the National Assembly that Seychelles’ economy showed strong performance in the first half of 2025, with higher tax revenues and better than expected fiscal results, although challenges remain in some areas. Presenting the mid-year economic and fiscal outlook report, Minister Laporte explained that the approved 2025 budget stood at R11.7 billion, with an expected primary fiscal surplus of R617.9 million, equal to 4.4 per cent of gross domestic product (GDP).
He said earlier projections were based on discussions with the International Monetary Fund (IMF). According to the minister, the country’s actual performance exceeded expectations in the first six months. The improved outcomes were largely driven by stronger revenue collection, particularly in taxes tied to the tourism and trade sectors, as well as disciplined spending across several ministries. The minister noted that the figures reflect the resilience of the Seychellois economy amid global uncertainty.
Despite the positive mid-year results, Minister Laporte acknowledged that challenges remain in some areas, and that continued fiscal discipline will be required to sustain the recovery and protect priority programmes. The mid-year report will now be considered by the National Assembly as part of the budget review process. Members are expected to examine the detailed breakdown of revenues and expenditure, and to engage with the minister on measures to consolidate gains and address any emerging risks in the second half of the year.
