A2 Economics Ministry of Finance Article

by Gaëlle Confait

The 8 A2 Economics students, accompanied by their teacher, Mrs. Tainy Payet, were privileged to meet with high officials from the Ministry of Finance during their informative visit on Friday 26th November 2021. Minister Naadir Hassan, SS Patrick Payet, PS for Trade, Ms. Cillia Mangroo, and Director-General for Economic Planning, Lenny Palit, were all present and enlightened the students about the opportunities in the financial sector.

Firstly, the students were introduced to the workings of the three main departments of the Ministry. Each representative then explained the different sectors of their department. The Finance Department has 7 main divisions including the Financial Planning and Control Division, and the Macroeconomic Forecast branch which both require an economic and legal background. The Trade Department is divided into 9 clusters, notably Intellectual property, and even sends a representative to the World Trade Organization, in Geneva, Switzerland. The Trade department emphasized the need for individuals to have great negotiation skills, especially since trade agreements usually go hand in hand with other departments and ministries. In addition, the Economic Planning department focuses on achieving maximum economic benefit with the right mix of policies.

Furthermore, the Minister and SS Payet advised the students to not take the “easy path” to gain that necessary “competitive edge and advantage” in the field of work. They both highlighted the importance for young professionals to have a background education in Economics, Accounting, and Finance before seeking further education, because despite not pursuing a career directly in finance, it is necessary to be knowledgeable about most careers that are in high demand in Seychelles, such as Law and Offshore/Foreign affairs. The officials also interacted with the students about their questions about tax policies, how efficient government expenditure is, and how the nation can be more sustainable when using scarce resources especially in relation to specialization in the Seychelles.

Therefore, all departments have a common feature: to innovate, modernize and strengthen our island state’s financial sector. Working together, they hope to attract the new generation into this rewarding profession where “you will never be bored”, and to showcase that despite being a small nation, we are able to be even better than those much larger than us.