Eswatini’s economy is showing strong signs of recovery, highlighted by a 12.1% surge in exports during the second quarter of the year, according to a report presented by Economic Planning Minister Dr. Tambo Gina.
The increase signals a positive economic trajectory driven by easing inflationary pressures and improved global commodity markets, benefiting the country’s export-driven sectors.
Dr. Gina outlined how wage adjustments aimed at mitigating rising living costs have helped stimulate consumer spending, further bolstering economic activity.
“The positive indicators we are witnessing reflect a collective effort to cushion our citizens while stimulating economic activity,” he remarked.
Looking ahead, Dr. Gina remains optimistic about the nation’s medium-term growth prospects.
Key sectors expected to see significant expansion include manufacturing, mining, sugarcane production, and the rapidly growing Information, Communication, and Technology (ICT) industry.
The government’s commitment to these sectors is evidenced by ongoing investments designed to foster innovation and enhance productivity.
An anonymous economist echoed Dr. Gina’s optimism, emphasizing the potential for local manufacturers to benefit from increased exports and the stabilization of commodity prices, which could drive production growth and job creation.
“The growth in exports and stabilization of markets present exciting opportunities for our local industries, and we expect further positive impacts on employment and economic stability,” the economist stated.
As Eswatini works to maintain this positive economic momentum, the focus now shifts towards sustainable growth.
Continued collaboration between the government and private sector will be crucial in transforming these gains into long-term stability and resilience.
Dr. Gina remains confident in the nation’s prospects, stating, “The path forward is promising, and together, we can build a resilient economy that benefits all citizens.”
