{"id":472704,"date":"2021-07-08T11:10:08","date_gmt":"2021-07-08T11:10:08","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=472704"},"modified":"2021-07-08T11:10:08","modified_gmt":"2021-07-08T11:10:08","slug":"seychelles-growth-expected-at-7-7-after-a-sharp-contraction-in-2020","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2021\/07\/08\/seychelles-growth-expected-at-7-7-after-a-sharp-contraction-in-2020\/","title":{"rendered":"Seychelles: growth expected at 7.7% after a sharp contraction in 2020"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p>After shrinking by around 13% in 2020, Seychelles\u2019s gross domestic product (GDP) is expected to grow 7.7% in 2021, according to forecasts released on July 7, 2021 by the International Monetary Fund (IMF).<\/p>\n<p>This announcement comes following a two-week mission carried out by the Fund between late June and early July in the country. \u201cThe IMF team welcomes the progress made by the authorities in the fight against the Covid-19 pandemic. As Seychelles (\u2026) reopened its borders on March 25, 2021, tourists returned and economic activity started to pick up, \u201dsays the IMF. &#8220;There has been a recent upsurge in infections, but cases have peaked and are now declining,&#8221; he reassures.<\/p>\n<p>Heavily affected by the pandemic and its effects in 2020, the Seychelles economy contributes up to around 80% of the GDP and employment of the 115-island archipelago. According to IMF forecasts, the recovery in tourism activity and revenue should make it possible, apart from an expected growth of 7.7% in 2021, to reduce the current account deficit to 22%, and the deficit primary to 9.7% of GDP.<\/p>\n<p>Note that the institution has, moreover, announced the conclusion of an agreement of 107 million USD within the framework of the extended facility, relating to the economic and structural policies of Seychelles. Last May, the institution also approved an emergency disbursement of approximately USD 31.2 million to the country under the Quick Finance Instrument (IFR).<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>After shrinking by around 13% in 2020, Seychelles\u2019s gross domestic product (GDP) is expected to grow 7.7% in 2021, according to forecasts released on July 7, 2021 by the International Monetary Fund (IMF). This announcement comes following a two-week mission carried out by the Fund between late June and early July in the country. \u201cThe<\/p>\n","protected":false},"author":536282,"featured_media":472705,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12046],"tags":[19361,19362,12145,17398,344,15550],"class_list":{"0":"post-472704","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-leaders-en","8":"tag-7-7","9":"tag-contraction-in-2020","10":"tag-gdp","11":"tag-growth","12":"tag-imf","13":"tag-seychelles","14":"post_format-post-format-aside","15":"pmpro-has-access"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Seychelles: growth expected at 7.7% after a sharp contraction in 2020 - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. The aim of Kapital Afrik is to provide financial and political news, give priority to human entrepreneurial experiences, lend life to economic policies, givemeaning to statistics. Our \u201cexaggerated pretensions\u201d inspire us. We will strive, and gradually, to conceive, comfort and reach them. Three versions, three approaches and a global vision. The website is constantly on the news. The newsletter relays information every morning to executives, bankers, university financiers, students. The monthly edition analyzes the information and explains the setbacks. A single credo initiates our journalistic approach: information = actors, facts = a pluralistic vision. 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