BY MBONO MDLULI
MBABANE – Eswatini has recorded official preliminary reserves of E10 billion for the months of June and July.
This is contained in the June/July Monthly Statistical Release report of June and July 2024. “Preliminary gross official reserves grew by 31.9 per cent month-on-month and 28.7 per cent year-on-year to settle at E10.6 billion in July 2024,” said part of the report.
The report also states that broad money supply (M2) stood at E22.6 billion in June 2024, reflecting a contraction of 2.5 per cent month-on-month and growth of 10.4 per cent year-on-year. Domestic liquid assets fell by 11.9 per cent month-on-month and grew by 0.7 per cent year-on-year to reach E6.5 billion in June 2024.
Broad money supply (M2) stood at E22.6 billion in June 2024, reflecting a contraction of 2.5 per cent month-on-month and growth of 10.4 per cent year-on-year. Credit extended to the private sector increased by 2.5 per cent month-on-month and 11.7 per cent year-on-year to stand at E20.3 billion in June 2024.
Reserves import cover rose to 2.8 months in July 2024 from 2.1 months in June 2024. The discount rate was kept on hold at 7.50 per cent in July 2024. Prime lending rate: commercial banks’ prime lending rate was also kept on hold at 11.00 per cent in July 2024.
