PESA Editorial on Eswatini: 1H2022/23

Eswatini’s economy has begun recovering from the shock caused by the COVID-19 pandemic. Real GDP growth is projected to increase from an annual average of 1.3% for 2019 to 2021, to 2.1% in 2022. Inflation is projected to increase from an annual average of 3.4% for 2019 to 2021, to 4.8% in 2022. The elevated inflation is caused by the sanctions against Russia which have increased the price of crucial imports. In the medium-term period from 2023 to 2025, real GDP growth is projected to remain stable at an annual average of 2.1%. Meanwhile, inflation is projected to decrease to an average of 4.3% over the medium-term from 2023 to 2025.