PESA Editorial on Eswatini: 1H2023/24

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• Create Date December 8, 2023
• Last Updated December 16, 2023

Eswatini’s economy has struggled with recovering from the global shocks caused by the COVID-19 pandemic in 2020 and the Russia-Ukraine conflict in 2022. The Central Bank of Eswatini (CBE) has an explicit inflation target band of 3-7%. The Government of Eswatini has followed procyclical fiscal policy by reducing government spending during economic downturn and increasing public spending during economic recovery. Eswatini’s external sector has recovered from the global shock caused by the COVID-19 pandemic in 2020 but has not benefited from the higher commodity prices in the aftermath of the Russia-Ukraine conflict. Eswatini held its most recent national elections in September 2023. Eswatini remains tense and uncertain, marked by pro-democracy protests and government repression. Read more accurate and balanced analysis of the political economy in Eswatini here: https://politicaleconomy.org.za/2023/12/pesa-editorial-on-eswatini-1h2023-24/.