CANGO Participates in 2025 Post Budget Seminar Hosted by the Central Bank of Eswatini

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CANGO Participates in 2025 Post Budget Seminar Hosted by the Central Bank of Eswatini（https://cango.org.sz/cango-participates-in-2025-post-budget-seminar-hosted-by-the-central-bank-of-eswatini/）

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March 7, 2025

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The Central Bank of Eswatini recently hosted the 2025 Post Budget Seminar, a significant event that brought together various stakeholders to discuss and interpret the national budget. The Hon. Minister of Finance, Neal Rijkenberg, delivered his second budget speech on February 14, 2025, under the theme “Transformation for Growth!” This theme underscores the government’s commitment to fostering economic growth through strategic resource allocation and fiscal discipline.

The national budget, comprising both a capital and a recurrent budget, is designed to have a substantial positive impact on the country’s growth. The budget process is crucial for several reasons, including resource allocation to government programs, ensuring transparency and accountability, encouraging public participation, and maintaining fiscal discipline.

The 2024/25 budget was prepared amidst international tensions and geopolitical challenges that have impacted global trade and cooperation. Despite these external challenges, Eswatini aims to achieve its development objectives and sustain economic growth.

Post Budget Seminar 2025

The Post Budget Seminar serves as a vital platform for multi-stakeholder engagement, allowing for a comprehensive discussion on the national budget. The Hon. Minister of Finance emphasized the importance of balancing the budget to address the country’s major issues of poverty and unemployment. He highlighted that Eswatini’s debt-to-GDP ratio stands at 40.5%, one of the lowest in the Common Monetary Area and among other African countries, which contributes to greater economic stability and investment potential.

The Minister also addressed the risks associated with reliance on the Southern African Customs Union (SACU) and the need to bolster the stabilization fund. He mentioned that if South Africa increases its VAT rate, Eswatini would follow suit to maintain ease of trade, given the close trade relations between the two countries.

Focus Areas for the Current Term

The Hon. Minister outlined several focus areas for his current term, including:

Transforming government procurement to e-procurement.

Implementing an Integrated Financial Management Information System (IFMIS).

Reforming the public accounting system.

Clearing arrears to suppliers and businesses.