President James Michel delivered his 11th State of the Nation Address to the Seychelles National Assembly this afternoon, placing emphasis on the principles of patriotism, empowerment, national unity, social harmony, solidarity, entrepreneurial spirit, and family values for the development of Seychelles' economic and social wellbeing.
Mr. Michel said the world economy in 2014 remained fragile, with a particularly poor performance in the Euro zone which impacted negatively on the Seychelles economy, which relies mainly on tourism, where the gross domestic product (GDP) was 2.8%- smaller than was predicted - mainly because of a reduction in activities relation to tourism and industrial production.
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