Since 2008, the Government of Seychelleshas successfully undertaken major reforms to securemacroeconomic stability and create conditions forsustainable, private sector-led growth. The continuousstrengthening of Seychelles' public financialmanagement (PFM) system plays a central role in facilitatingfiscal consolidation and improving the delivery ofgovernment services. Over the past few years, the governmenthas implemented a series of reforms to address public sectorgovernance, including: (i) modernizing the public sector andimproving the alignment of institutions with policy andservice delivery mandates; (ii) rolling back thegovernment's role in commercial activities by reducingthe large number of parastatals, improving management, andintroducing a new wage bill together with the privatesector; and (iii) redefining the accountability structurebetween the government agencies responsible for servicedelivery. Despite the government's ambitiousmacroeconomic reform program and its efforts to strengthenthe PFM system, measures to improve the efficiency of publicinvestment management (PIM) have received only limitedconsideration. Challenges to the efficient use of publicresources hamper the government's ability to meeturgent social needs and improve access to basic services.This note aims to provide an objective assessment of thestrengths and weaknesses of Seychelles' PIM system andto recommend measures for improving the quality of capital spending.
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