BY MBONO MDLULI
MBABANE – Inflation rate in Eswatini has dropped by 0.1 percent.
This is according to the Recent Economic Development Report for August/September 2024, which was issued by the Central Bank of Eswatini (CBE).
According to the report, the country’s headline inflation fell by 0.1 percentage point to record 4.1 percent from 4.2 percent in July 2024. The report further states that the discount and prime lending rates were lowered in September 2024 to 7.25 percent and 10.75 percent, respectively.
During the month of September 2024, the Rand/Lilangeni exchange rate appreciated against the US Dollar. The rate stood at E17.64 against the US Dollar.
Credit extended to the private sector improved by a percent month-on-month to settle at E20.1 percent at the end of August 2024.
Eswatini’s stock of broad money supply (M2) amounted to E25 billion at the end of August 2024. This indicated a month-on-month growth of 3.4 percent.
Preliminary data indicates that gross official reserves amounted to E8.3 billion. This reflects a decline of 17.8 percent, month-on-month.
At the end of September 2024, total public debt stood at E34.5 billion, translating to 37.2 percent of the GDP. The country recorded a trade surplus of E996.5 million in September 2024. The trade surplus has been up from E301.3 million from August 2024.
