Seychelles : Recent Economic Developments

This paper reviews economic developments in Seychelles during 1990–95. After growing in 1992 and 1993 by 6.9 percent and 5.1 percent, respectively, real GDP contracted in 1994 by an estimated 1.6 percent, mainly as a result of a sharp decline in tourist receipts and a poor performance in the fishing sector. The annual rate of inflation as measured by the retail price index remained subdued at about 1.6 percent during 1993–94, compared with about 2.6 percent during the preceding two years.