Eswatini: African Daily Voice
The African Development Bank (AfDB) has expressed confidence in the Kingdom of Eswatini’s economic recovery.
AfDB Executive Director, representing Canada, China, Korea, Kuwait and Turkey, David Stevenson, suggested that it would be highly important to manage the public expenditure appropriately, if the country wants to achieve economic growth in the short to medium term.
“We are enthusiastic to see how the economic reforms to be implemented by the new government will improve the country’s Gross Domestic Product (GDP),” Stevenson told the media.
He added that the organisation strongly believes that the economic reformation in the country could be achieved if appropriate measures are followed.
Stevenson also noted that the country needed to manage its wage bill with the aim to ensure that government has enough resources to pay salaries.
“The approval processes of what has been budgeted for should also be prioritised to avoid mismanagement of resources,” he said.
He further made a reassurance that the AfDB will continue to fund infrastructural, agricultural and policy formulation support to the Kingdom of Eswatini.
The country’s Minister of Finance, Neal Rijkenberg, expressed gratitude that the reputable African Bank has confidence on Eswatini’s economic turnaround strategy.
He said AfDB has been assisting the country for a number of years now, especially towards agricultural and infrastructural development, adding that the government is grateful for all the assistance.
“We are proud to have maintained a good track record in terms of repayment deadlines and completing projects within the projected budgets which strategically position us at an advantage to receive funding in future,” said Rijkenberg.