- “We are doing our best to bring a budget that responds to the country’s needs and supports growth at the same time.”
BY MBONGENI NDLELA
MBABANE – With this clear and reassuring message, Neal Rijkenberg, Minister of Finance, has outlined government’s careful and people-centred approach as preparations for the 2025/26 National Budget reach an advanced stage.
Speaking during his Finance in Focus engagement, the Minister said the country is currently in the middle of the budget process, with Cabinet consideration underway ahead of the Budget Speech expected towards the end of February. He acknowledged the difficulty of balancing national priorities in an environment of limited resources, but stressed that government remains focused on directing available funds where they are most needed.
Careful Allocation in Challenging Times
Minister Rijkenberg noted that government does not have enough resources to fund every sector at ideal levels, making prioritisation essential. He said the objective of the current budget exercise is to allocate resources responsibly while ensuring the country continues on a path of economic growth.
Improving Tax Compliance for Better Services
A major focus of the Minister’s address was strengthening tax compliance, particularly in the retail sector. He clarified that while many businesses meet their tax obligations faithfully, there are concerns about widespread underpayment of Value Added Tax (VAT). Improved compliance, he noted, will allow government to deliver more services and strengthen national development.
Understanding Electricity Tariff Increases
Addressing the issue of rising electricity tariffs, the Minister acknowledged the heavy burden placed on households and businesses. He explained that the increases are largely driven by external factors, and government is now moving decisively towards increasing local power generation.
Power Independence as a Long-Term Solution
Looking ahead, the Minister said Eswatini’s long-term goal is to achieve greater power independence, stabilise electricity prices and protect the country from volatile external markets.
A Call for Collective Responsibility
Minister Rijkenberg concluded by calling on Emaswati to view the current economic challenges holistically, emphasising that difficult decisions today are necessary to secure a stronger and more resilient future for the nation.
