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Enchaning level of engagement with data in the allocation anduse in Seychelles -would an integrated VFM code be a useful initiat
Finance & Accounting
Pages 20 (5020 words)
5.0 CONCLUSION AND RECOMMENDATION 5.1 CONCLUSION 5.1.1 Present monetary/economic management in Seychelles There are several factors that go into the measurement of the economic wealth of any given country. On a broader scale, the ratio of amount of resources available and output of development is used in the measurement…
This conclusion is that the country is at a point in its economic management where needs to be an urgent intervention to savage it from further deterioration. Presently, the debt to Gross Domestic Product for Seychelles stands at 160% (Advisory Group, 2001). This is an exorbitant value that indicts the possibility of the country to becoming totally classified as economically independent. What is even more disturbing is the fact that Seychelles is a country of barely two million people. The attempts made by international bodies such as the World Bank and United Human Development in consultation with the government to undertake reforms in the public sector to curb the current problems would therefore be described as a step in the right direction. However, the current problem has gone beyond the use of paper work policies. It is therefore high time the country adapted a comprehensive model in savaging the situation other than the value for money code policy currently in use. 5.1.2 Value for Money Code policy for Seychelles 188.8.131.52 Legal dimension As a first step towards the mitigation of massive waste in the public sector, which has led to the existence of the current huge debt to GDP, Seychelles has adapted the use of value for money code policy. ...
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