cover image: Kingdom of Eswatini: 2024 Article IV Consultation-Press Release; and Staff Report

Kingdom of Eswatini: 2024 Article IV Consultation-Press Release; and Staff Report

30 Sep 2024

Growth reached 4.9 percent in 2023, driven by services, manufacturing, and high transfers from the Southern African Customs Union (SACU). The latter helped move the external current account to a surplus of 2.2 percent of GDP. Inflation averaged 4.9 percent in 2023 and moderated to 4.2 percent in July 2024. The fiscal deficit is estimated to have narrowed to 1.5 percent of GDP in FY23/24; however, domestic payment arrears persisted. Public debt is moderate, at 38.5 percent of GDP. Widening of the policy rate differential between the Central Bank of Eswatini and the South African Reserve Bank to 75 bps in July 2023 has encouraged capital outflows, and official reserves at end-2023 covered only about 2.2 months of imports.
crime public debt central banks external debt national accounts expenditure revenue administration international reserves arrears fiscal stance public financial management (pfm) government debt management anti-money laundering and combating the financing of terrorism (aml/cft)

Organizations mentioned

DOI
https://doi.org/10.5089/9798400289606.002
ISBN
9798400289606
ISSN
1934-7685
Issue
304
Pages
66
Published in
United States of America
Series
Country Report No. 2024/304
Stock No
1SWZEA2024001
Volume
2024

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