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Eswatini economic growth and fiscal management

Updated 5 times since CLSTR started tracking revisions of this situation.

What changed

2026-10-13 13:23 UTC → 2026-10-19 12:52 UTC · added removed

Eswatini’s economy has demonstrated growth, with the Gross Domestic Product (GDP) reaching E96.6 billion in 2025. This represents a real growth rate of 4.8 percent, up from 3.0 percent in 2024. The expansion was largely driven by the tertiary sector, which grew by 6.0 percent and accounts for 52.3 percent of the total GDP. In By August 2026, the country recorded a preliminary merchandise trade surplus of E194.09 million, though it maintained a cumulative deficit pension fund assets reached approximately E55.8 billion, representing about 57 percent of E878.39 million for the first five months of nation’s GDP. Finance Minister Neal Rijkenberg noted that while these funds offer potential for long-term capital, they must be managed with strict fiduciary responsibility and should not be treated as a “government cheque book.” Simultaneously, the 2026/27 financial year. government plans to raise an additional E1.5 billion to manage fiscal pressures. Minister for Economic Planning and Development Dr. Thambo Gina warned that growth may not improve living standards due to high wealth inequality. In September 2026, gross official reserves reached E10.8 billion, a 2.6 percent increase from August, improving import cover to 2.5 months. However, the Central Bank increased its discount rate by 25 basis points to 7.0%, bringing the prime lending rate to 10.50%. Capital market assets grew by 6.65% in the second quarter of 2026 to E49.68 billion, driven primarily by retirement funds which accounted for 72.06% of total funding. To bolster domestic revenue, which is targeted at E19.48 billion for the 2026/27 financial year, In the Eswatini Revenue Service (ERS) expanded its definition second quarter of High-Net-Worth Individuals (HNWIs). This new criteria includes persons with combined assets 2026, Eswatini experienced a widening trade deficit of E3 E818.5 million or more, encompassing immovable property, financial investments, and shares. Finance Minister Neal Rijkenberg stated this move aims as imports outpaced exports. Meanwhile, the construction sector saw a registered project value surge of approximately 294% to improve tax fairness and prevent individuals from avoiding obligations by not declaring income. This follows previous concerns from Minister Dr. Thambo Gina regarding wealth inequality and E11.24 billion during the concentration 2025/26 financial year, heavily driven by public-sector investment, which accounted for 80.2% of economic benefits among the wealthiest citizens. total value.

Versions

  1. 2026-10-19 12:52 UTC Eswatini economic growth and fiscal management
  2. 2026-10-13 13:23 UTC Eswatini economic growth and fiscal management
  3. 2026-09-24 03:14 UTC Eswatini economic growth and fiscal management
  4. 2026-09-19 09:11 UTC Eswatini economic growth and fiscal management
  5. 2026-09-17 03:44 UTC Eswatini economic growth and fiscal management
  6. 2026-09-03 11:02 UTC Eswatini economic growth and fiscal management

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