The GDP Bubble
THE World Bank recently published a study in November 2007 stating the figures provided by the Government of Seychelles shows the GDP is USD 6,600 per person. This is an eye opener given that, in the same report, the GDP for South Africa is USD 3,400 per person. It went on to say that in order to sustain growth, particularly at the levels between 1995 and 2005, economies would have to reduce indirect costs to companies, improve infrastructure, build institutional capacity and increase productivity through investment in technology and skill formation.
LNSW is highlighting the above to bring to your attention the anomalies that Minister Danny Faure and his magicians give out as messages of hope to people. The GDP of the Seychelles is about double of that of South Africa. Yet, a Seychellois gets only USD 400 to travel outside Seychelles. Why? Goods, commodities, food and services available in other countries within the same region are not available in the high GDP earning Seychelles. Why? The required investments need to sustain growth in the Seychelles is also not being made by this Government. Why?
Given that the President of the Republic of Seychelles admitted that most of the foreign exchange entering Seychelles does not enter the banking system, the whole situation with regards to our GDP is an outright lie. Does accountability, responsibility, good governance and transparency involve feeding mumbo-jumbo to the World Bank? Who are the architects of these figures? When did they (the architects') notice that the foreign exchange was not entering the official banking system? Surely, it could not have been after reporting to the World Bank and before the President's State of the Nation address! Can we trust a government that uses the Commonwealth as a yardstick to fill pockets of its own and leave the rest of us to scavenge on the crumbs that make it on to the public arena?
These are not opinions of malpractice and corruption; the above are true facts of events actually taking place in the Seychelles. What is required is strong leadership that will prick the GDP bubble and let out all the rot and filth, in other words, a leader that will do what it takes to get things right!
