By Mbongeni Ndlela
MBABANE – Minister of Finance, Neal Rijkenberg, has lauded the Public Finance Review (PFR) Report as a crucial step in enhancing Eswatini’s fiscal policies and economic management.
Speaking at the launch of the report, he emphasized the importance of the review in identifying key opportunities for financial stability and growth.
Rijkenberg highlighted that this is the first Public Finance Review of Eswatini by the World Bank since 1996, marking a historic milestone in the country’s economic reforms.
He commended the collaboration between the World Bank and Eswatini’s government, noting that the insights provided by the report were instrumental in shaping the recently presented 2025/26 National Budget.
“This report provides valuable insights into fiscal policy opportunities, which are crucial for Eswatini’s development and for addressing constraints to economic growth,” Rijkenberg stated.
He added that government is focused on stabilizing revenue streams while promoting competition and market fairness.
The Minister reaffirmed Eswatini’s commitment to strengthening Public Financial Management (PFM) through the implementation of the Integrated Financial Management Information System (IFMIS).
This system is expected to improve budgeting processes and address long-standing financial management challenges.
He also assured that government is actively working to resolve expenditure arrears permanently, with measures such as annual audits and a transition to an accrual-based accounting system in line with International Public Sector Accounting Standards (IPSAS).
On procurement reforms, Rijkenberg revealed that the Public Procurement Act of 2011 is undergoing a review, with a call for public input recently issued. The goal is to modernize procurement processes by enhancing accessibility, expanding electronic procurement (E-GP) coverage, and improving supplier registration mechanisms.
“The Ministry of Finance welcomes this Public Finance Review report as it allows us to conduct deeper analysis and explore various reform options. Implementing these recommendations will further strengthen our fiscal position, enabling us to leverage fiscal policy as a tool for macroeconomic stability and enhanced external competitiveness,” he said.
In conclusion, the Minister urged all stakeholders to work together in building a resilient and sustainable economy for Eswatini. He expressed confidence that the ongoing reforms will pave the way for a more efficient and transparent financial system, positioning the country for long-term economic prosperity.
The launch of the PFR report signifies Eswatini’s commitment to sound financial governance and responsible economic planning. The company hopes that these reforms will improve investor confidence and economic resilience in the coming years.
