Seychelles: public finances

What is the national debt of Seychelles?

Seychelles' total public debt was SCR 18.66 billion at the end of June 2026, equal to 52.7% of GDP, according to the Ministry of Finance's Quarterly Debt Bulletin for Q2 2026. External debt was SCR 10.34 billion (29.2% of GDP) and domestic debt SCR 8.33 billion (23.5% of GDP).

Debt rose 3.6% in the quarter, mainly because of disbursements from the IMF and the World Bank. The total includes government-guaranteed debt, which was SCR 928 million, or 5% of the stock. The 2026 budget documents estimate that debt fell to around 54% of GDP at the end of 2025, from 58.3% a year earlier, and set an objective of 50% by 2030.

Official sources: Ministry of Finance: Quarterly Debt Bulletin Q2 2026 (PDF) · Ministry of Finance: 2026 Budget, assumptions and objectives (PDF)

What is the Seychelles budget for 2026?

The 2026 budget of Seychelles proposes total appropriations of SR 11.84 billion, 4% more than revised 2025 spending, according to the Ministry of Finance's assumptions and objectives of the 2026 budget. Revenue including grants is projected at SR 12.28 billion, or 35% of GDP, with a primary surplus of SCR 550 million, or 1.5% of GDP.

The primary balance leaves out interest payments, so it shows whether revenue covers spending other than debt costs. For 2025, the ministry estimated total revenue at SCR 11.3 billion (about 33% of GDP), 7% below the original budget, and tax revenue at SCR 9.8 billion. The budget speech, estimates and Appropriation Bill are on the ministry's Budget 2026 page.

Official sources: Ministry of Finance: 2026 Budget, assumptions and objectives (PDF) · Ministry of Finance: Budget 2026

What is the Seychelles' national debt?

In 2025, general government gross debt in the Seychelles was 51.2% of GDP, according to the IMF. Since 2005 it has ranged from 48.9% of GDP (2019) to 192.1% of GDP (2008). Across Sub-Saharan Africa the middle value was 53.0% of GDP, and the Seychelles placed 26th highest of 46. Worldwide: 104th of 185.

Does the Seychelles' government borrow more than it raises?

According to the IMF, general government net lending or borrowing in the Seychelles was -1.0% of GDP in 2025 (a deficit). The peak was 7.9% of GDP in 2008 and the low -15.7% of GDP in 2020. It is 10th highest of 47 in Sub-Saharan Africa, where the median is -3.0% of GDP. Of 188 countries with 2025 data, 51st highest.

How much does the Seychelles' government take in?

The latest figure from the IMF, for 2025, is 31.5% of GDP. Its high point since 2005 was 2012, at 41.5% of GDP; its low point was 2022, at 30.8% of GDP. Sub-Saharan Africa median: 18.4% of GDP; the Seychelles is 3rd highest of 47. World rank, highest first: 69th of 187.

How big is the Seychelles' government spending as a share of GDP?

The latest figure from the IMF, for 2025, is 32.5% of GDP. Since 2005 it has ranged from 27.0% of GDP (2008) to 46.7% of GDP (2020). Sub-Saharan Africa median: 20.8% of GDP; the Seychelles is 5th highest of 46. World rank, highest first: 80th of 186.

What is the Seychelles' defence spending?

1.2% of GDP: that is military spending in the Seychelles for 2025, according to SIPRI. Its high point since 2005 was 2021, at 2.5% of GDP; its low point was 2010, at 0.7% of GDP. Across Sub-Saharan Africa the middle value was 1.3% of GDP, and the Seychelles placed 25th highest of 44. Of 149 countries with 2025 data, 97th highest.