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Resilient growth is observed in 2012 in Seychelles. Weakness in tourism has been offset by increases from less-traditional markets. The current account and adjustments has administered prices in the second half of 2011, and a cycle of depreciation and inflation ensued. The fiscal accounts suffered in the first half of 2012 from the restructuring arrangement for Air Seychelles. The banking system remains solid and continues to maintain healthy capital adequacy ratios. Despite strong program performance, Seychelles remains highly vulnerable to external shocks.No additional capital injection in 2012 is expected from Government in addition to what took place in the first months of the year (SR ... has been deferred to at least 2014 given the faster than expected improvement in the airlinea#39;s financial position. 13. ... tax of 1.5 percent of turnover for small businesses with turnover of less than SR1 million, as an option to the current ... We have decided to lower the business tax rate from 33 percent to 30 percent as part of a broader plan to reduce itanbsp;...

Author:International Monetary Fund. African Dept.
Publisher:International Monetary Fund - 2013-01-30


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