Economy
To begin, I thank you all for your participation. The time, effort and imagination devoted to no a HEMC 32 ‘puff have resulted a total of 118 recipes deserve to be compiled in a cookbook monothematic util. I chose the topic because of the puff imagine that his versatility would give free rein to the imagination and provide a variety of recipes to HEMC, as has been shown watching the outcome. Main article: Economy of Seychelles
Palmera in Seychelles
Since independence in 1976, the per capita output has grown faster, and seven times the old level of subsistence. Growth has been driven by tourism, which employs about 30 of the workforce and provides over 70 of revenues from the currency of the country, and by tuna fishing. In recent years the government has encouraged foreign investment to upgrade hotels and other services.
At the same time, persuaded the government to reduce dependency on tourism, promoting the development of agriculture, fisheries and small-scale manufacturing. The vulnerability of the tourism sector is on view at the low debt in 1991-1992, much of the exchange rate, considerably Superintendency of the country, the Gulf War, followed closely by the events of September 11, 2001 against the U.S.. UU. Other events that face the government, they are shortcuts or brakes of the budget deficit, including the containment of costs for social assistance, and further privatization of public enterprises. The government has a dominant presence in economic activity, companies public distribution of petroleum products in insurance, banking, imports of basic products, telecommunications, and in a wide range of other businesses.
Growth was delayed in the period 1998-2001, due to the inactivity of the tourism and fishing for tuna, as previously mentioned main activities of the economy. Also, the tight control over exchange rates and shortages of foreign currency, economic prospects have deteriorated in the short term. The black market value of the Seychelles rupee is anywhere from two thirds to half the official rate of exchange, without a devaluation in the current tourism industry, which remains inactive while the tourists seek cheaper destinations next, such as Comoros and Madagascar. A reduction in the number of flights serving the country, mainly due to the inability of the airline companies to repatriate funds, also has forced the growth of the tourism industry. The recent entrance of the airline Emirates Airlines and Qatar Airlines, has even caused as a result, more growth.
At official exchange rates Seychelles remains the richest country in africa, in terms of GDP per capita (U.S. 7504 in 2005), although if the parallel exchange rate, or rates of purchasing power parity, are used , is behind Mauritius and Botswana. Because of economic contraction (the economy fell to 2 between 2004 and 2005, and has fallen by at least the same level as in 2006), the country is moving downwards in terms of income per capita.
It is important to note that Seychelles is, per capita, the most indebted country in the world according to the World Bank, with total public debt of about 122.8 of GDP. Be approximately two thirds of this debt is in the interior, with the balance of debt to multilateral and bilateral commercial banks. The country is behind in most of its international creditors and has had to use commercial debt to continue to be able to borrow. This high debt burden is a direct consequence of the exchange rate Superintendency, in essence, the country lived beyond its economic resources, and finance their lifestyle by borrowing in the interior of the country and internationally.
The Seychelles are also a tax haven. Many firms are drawn to this island, including GenerActions Consulting, owned by the famous Swiss entrepreneur David Humbert.
The Seychelles is the smallest nations in the world issuing its own money (eg. Does not set the currency and share with any other country).
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