BY MBONGENI NDLELA
MBABANE – The Minister of Finance, Neal Rijkenberg, today delivered the 2026/27 National Budget Speech in Parliament, outlining a E36.9 billion spending plan focused on human development, infrastructure expansion, economic growth and social protection.
According to the Ministry of Finance’s Budget at a Glance 2026/27, total government revenue and grants are projected at E31.9 billion – a 7.3% increase compared to the previous financial year, largely driven by improved SACU receipts.
However, total expenditure is estimated at E36.9 billion, resulting in a targeted fiscal deficit of 4.9% of GDP for the 2026/27 financial year.
Education Remains Top Priority
Education continues to receive the largest share of the budget, with E6.3 billion allocated to the sector, representing 17% of the total national budget.
Key allocations include:
• E12 million for the Teacher File Management System
• Approximately E98 million for the School Feeding Programme
The Ministry of Education and Training’s total allocation stands at E5.47 billion in combined recurrent and capital expenditure, reinforcing government’s commitment to improving learning outcomes and strengthening education systems.
E3.27 Billion for Health Services
The Ministry of Health has been allocated E3.27 billion to enhance healthcare delivery nationwide.
Notably, E50 million has been set aside to transform the Central Medical Stores (CMS) into the Eswatini Medical Supply Agency, a move expected to improve medicine procurement and supply chain efficiency.
Strong Social Protection Support
Government has committed E3.73 billion toward overall social protection, continuing its support for vulnerable populations, including housing initiatives aimed at providing decent shelter to citizens in need.
Major Investment in Agriculture and Infrastructure
The Ministry of Agriculture receives E2.2 billion, with targeted support including:
• E10 million for the Hamba Ubuye Revolving Fund
• E10 million for the Agriculture Development Fund
• E15 million for cordon fencing
Infrastructure development also features prominently:
• E372 million for road maintenance and rehabilitation
• E632 million for construction of new roads
• E200 million for resurfacing rural roads
In total, the Ministry of Public Works and Transport is allocated over E3.21 billion in combined expenditure, signaling a strong push toward connectivity and economic facilitation.
Economic Affairs and Growth Outlook
Economic Affairs receives E7.78 billion, making it one of the largest functional allocations in the budget.
Government has projected a preliminary nominal GDP growth rate of 5.6% for 2025/26, combining real growth and inflation.
Total identified financing for 2026/27 stands at approximately SZL5.02 billion, an increase of 58.1% compared to the previous year. Interest expenditure is budgeted 47% higher than in 2025/26, reflecting the need to service maturing loans.
Revenue vs Spending
Revenue and grants: E31.9 billion
Expenditure: E36.9 billion
Fiscal deficit target: 4.9% of GDP
Spending classification highlights:
• General Public Services – 28%
• Economic Affairs – 21%
• Education – 16%
• Social Protection – 10%
• Health – 9%
The 2026/27 Budget demonstrates government’s continued focus on people-centered development, economic resilience and infrastructure expansion. The budget signals a clear intent to stimulate growth, protect the vulnerable and strengthen national systems in line with Eswatini’s development priorities.
