OFFICE OF THE PRESIDENT

PRESS RELEASE

05.07.2012

NATIONAL ECONOMIC COUNCIL MEETING

President James Michel chaired the 5^th meeting of the National Economic Council at State House this morning.

The Council continued to address strategies for maximising Government revenue by ensuring that revenue from tourism and other activities enter the Seychelles economy and that taxes due are collected efficiently.

The Council urged private sector organisations to contribute more actively to community development through their program of social corporate responsibility.

The Council was briefed on the factors affecting the price fuel on the local market as well as SEYPEC’s strategy for importing, stocking and distributing fuel and LPG in the most cost effective manner.

The Council discussed the employment situation and the need to strengthen the Human Resource Development capacity of the country to localise as many posts as possible. The need for accurate national statistics and the forthcoming Household Budget Survey were also discussed.

Strategies to tackle the problem of traffic congestion as well as policy options to ease the situation were raised.

The Council meets monthly to advise Government on strategies for the public and private sectors to work together for national economic development.