Decisions taken at the Cabinet meeting of Wednesday 29 April mark another step in the Government’s ongoing reform agenda, with a suite of measures approved to strengthen economic stability, accelerate growth, and deliver tangible benefits to the people of Seychelles.
Key Cabinet decisions incuded the implementation of a Multi-Year Electricity Tariff Framework, a strengthened Public Financial Management Action Plan, and the Tourism Action Plan 2026–2030, three pillars designed to enhance affordability, accountability, and long-term economic resilience, in line with IMF-supported targets.
Speaking at a Cabinet press briefing at State House, last week, Vice-President Sebastian Pillay said the reforms are geared towards improving efficiency, sustainability, and shared prosperity, ensuring that economic progress translates into meaningful improvements in the daily lives of Seychellois.
The implementation of a Multi-Year Electricity Tariff (MYT) framework is expected to bring greater predictability and transparency to electricity pricing. By setting tariffs over a three- to five-year period, subject to periodic review and adjustment, households and businesses will be better positioned to plan their expenses without the disruption of frequent changes. The framework also supports increased investment in renewable energy, reduces reliance on imported fuels, and contributes to a more secure and sustainable energy future.
Originally developed under the previous administration, the MYT framework has been reviewed and refined to align with the current Government’s policy priorities and its commitment to improving the cost of living. As reaffirmed by the President of the Republic, Dr Patrick Herminie in his address to the National Assembly, the Government’s position on electricity costs remains focused on stability, fairness, and long-term sustainability.
Efforts to strengthen public financial management are aimed at ensuring that every rupee of public funds delivers maximum value for the people. Enhancements in budget transparency, financial reporting, and expenditure efficiency will improve accountability and ensure that resources are directed towards priority sectors such as healthcare, education, and infrastructure. Strengthened procurement systems, improved project planning, and more robust oversight mechanisms are expected to reduce inefficiencies, enhance service delivery, and build public confidence.
The integration of climate-responsive and gender-responsive budgeting further underscores the Government’s commitment to inclusive and forward-looking fiscal policy, ensuring that national spending decisions are better aligned with the diverse needs of communities. The oversight role of the Finance and Public Accounts Committee will remain integral in reinforcing accountability across Government operations.
In the tourism sector, the Tourism Action Plan 2026–2030 signals a strategic shift towards maximising value rather than volume. The plan focuses on improving revenue management, safeguarding Seychelles’ natural and cultural assets, and strengthening linkages between tourism operators and local producers. By retaining a greater share of tourism earnings within the domestic economy, the initiative is expected to expand opportunities for local entrepreneurs, support small and medium-sized enterprises, and promote economic diversification.
Enhanced governance and coordination within the sector will also ensure that tourism development remains sustainable and aligned with national priorities, safeguarding benefits for future generations.
Taken together, these reforms point to a clear and consistent policy direction: stabilising the cost of living, strengthening the management of public resources, and broadening economic opportunities. The Government’s objective is not only to sustain growth, but to ensure that its benefits are widely felt, delivering a more resilient, inclusive, and prosperous future for all Seychellois.