By Thokozani Mazibuko
There is a positive trajectory in the country’s economy.
This is reflected in the 2nd Performance report in the quarter under review released by Dr. Tambo Gina, the Minister of Economic Planning.
This optimistic outlook is largely attributed to moderating inflationary pressures that have bolstered global commodity markets, significantly benefiting export-oriented sectors in the domestic economy.
Notably, exports surged by an impressive 12.1 percent, signaling a robust recovery as markets stabilize.
RELATED: Eswatini Economy witnesses 5% growth
The report highlights that the recent adjustments in wages, aimed at mitigating the impact of increased living costs on consumers, have further supported consumption during this period.
“The positive indicators we are witnessing reflect a collective effort to cushion our citizens while stimulating economic activity,” Minister Gina stated.
“As we look ahead, the medium-term growth prospects for our economy remain bright.”
It should be noted that key sectors poised for expansion include manufacturing, mining, and sugarcane production, alongside the rapidly growing Information, Communication, and Technology (ICT) industries.
While the government’s commitment to enhancing these sectors is evident in ongoing investments and initiatives designed to foster innovation and productivity.
An economist who preferred to remain anonymous, has echoed Minister Gina’s sentiments, expressing optimism about upcoming opportunities as the economy stabilizes.
“Local manufacturers particularly stand to benefit from the growth in exports and the stabilization of commodity prices, which could lead to increased production and job creation,” the economist pointed out.
RELATED: Eswatini economy faces ripple effects of South Africa’s Foot-and-Mouth Disease outbreak
It is worth mentioning that as the government continues to implement measures aimed at sustaining this positive momentum, all eyes will be on how these sectors adapt and further elevate the nation’s economic landscape in the months to come.
Moreover, with the focus now shifting towards long-term sustainability, the combined efforts of the government and private sector will be crucial in realizing the potential outlined in the Performance Report.
As Dr. Gina affirmed, “The path forward is promising, and together, we can build a resilient economy that benefits all citizens.”
