Billion in 2022

On the other hand, Matsebula reported that there was unappropriated and unauthorised over-expenditure on recurrent expenditure amounting to E181 353 693.14 which was incurred by various responsibility centres of the ministry.

He said the breakdown of the over-expenditure includes: Over-expenditure the report. Reacting to the budget speech by the Minister of Finance eal Rijkenberg, Business Eswatini stated that at a glance, the minister’s budget speech seemed to suggest that he was bent on an expansionary fiscal policy while being keenly cognisant of the growing debt stock.

Business Eswatini (BE) felt that a pro-growth strategy was not necessarily a bad thing given the situation in the country. However, the organisation suggested that government must keep a keen eye on the country’s public debt which had now breached the 40 per cent psychological barrier.

Management

The entity’s management revealed that for the first time since 2019, they were encouraged to see the removal of initiatives aimed at broadening collection from businesses and individuals’ pockets from the fiscal policy point of view.

The entity further stated that the minister, to his credit, resisted the temptation to overtax an already tax-weary and ‘heavy-laden’ nation and they thought this was a wise move on his part.

“ e are faced with inevitable hikes in the form of electricity tariffs, inflation and interest rates, all of which will conspire and militate against business growth.

“It is therefore reassuring to know that, at least the policy environment as spelt out by the minister in his speech will be conducive for business development and expansion. And if this line of thinking continues to prevail and regulatory pressures are actively managed by government with the private sector in mind, then maybe this country stands a chance in 2023 24,” reads a statement from BE. on personnel costs amounting to E158 690 707.42; over-expenditure on travel and communication amounting to E61 594.19; over-expenditure on medical drugs amounting to E22 208 768.86; over-expenditure on professional and special services amounting to E339 061.66; and over-expenditure on consumables of E9 458.01.