Eswatini Public Finance Review: Leveraging Fiscal Adjustment for Better Development Outcomes

Publication:
Eswatini Public Finance Review: Leveraging Fiscal Adjustment for Better Development Outcomes

dc.contributor.author	World Bank
dc.date.accessioned	2025-02-27T20:21:50Z
dc.date.available	2025-02-27T20:21:50Z
dc.date.issued	2025-02-27
dc.description.abstract	Eswatini’s fundamental policy challenge is to address the longstanding factors that have constrained growth and hindered broad-based improvements in living standards. Given the state’s significant role in the economy, the build-up of macro imbalances, and slow improvements in social indicators, it is vital to reform fiscal policy to transition to faster, more inclusive, and sustainable private sector-led growth. Eswatini development prospects continue to hinge on its attractiveness as an investment destination relative to its neighbors. The government has an opportunity to address binding constraints on growth by pivoting from a state-led to a private sector-led development model through five fiscal pathways: (1) ensuring macroeconomic stability for greater competitiveness, including reforming the way the country collects and manages revenues to smooth expenditures and avoid disruptions caused by inconsistent funding (e.g., SACU); (2) advancing fiscal reforms to encourage private investment through competition and market contestability; (3) improving public financial management to support fiscal consolidation and greater expenditure efficiency. Aligning budget allocations more closely with the government’s stated development priorities would make public spending a more effective policy instrument, and enhanced financial oversight and better management of public procurement would further improve expenditure efficiency; (4) fiscal policies for building more productive physical capital through better public investment management; and (5) fiscal policies for building human capital.	en
dc.identifier	http://documents.worldbank.org/curated/en/099020725053534134
dc.identifier.doi	10.1596/42875
dc.identifier.uri	https://hdl.handle.net/10986/42875
dc.language	English
dc.language.iso	en_US
dc.publisher	Washington, DC: World Bank
dc.rights	CC BY-NC 3.0 IGO
dc.rights.holder	World Bank
dc.rights.uri	https://creativecommons.org/licenses/by-nc/3.0/igo
dc.subject	PUBLIC EXPENDITURE
dc.subject	FISCAL POLICY
dc.subject	PUBLIC SPENDING
dc.subject	PUBLIC INVESTMENT MANAGEMENT
dc.subject	CLIMATE CONSIDERATIONS
dc.title	Eswatini Public Finance Review	en
dc.title.subtitle	Leveraging Fiscal Adjustment for Better Development Outcomes	en
dc.type	Report
dspace.entity.type	Publication
okr.date.disclosure	2025-02-27
okr.date.doiregistration	2025-04-14T11:51:11.159394Z
okr.date.lastmodified	2025-02-22T23:05:35Z	en
okr.doctype	Economic & Sector Work
okr.doctype	Economic & Sector Work::Public Expenditure Review
okr.docurl	http://documents.worldbank.org/curated/en/099020725053534134
okr.guid	099020725053534134
okr.identifier.docmid	P179584-b7a56e66-bd4a-43f1-8dad-db69742ca635
okr.identifier.externaldocumentum	34457640
okr.identifier.internaldocumentum	34457640
okr.identifier.report	197161
okr.import.id	6723
okr.imported	true	en
okr.language.supported	en
okr.pdfurl	https://documents.worldbank.org/curated/en/099020725053534134/pdf/P179584-b7a56e66-bd4a-43f1-8dad-db69742ca635.pdf	en
okr.region.administrative	Eastern and Southern Africa
okr.region.country	Eswatini
okr.sector	FY17 - Central Government (Central Agencies)
okr.sector	FY17 - Public Administration
okr.theme	FY17 - Public Finance Management,FY17 - Domestic Revenue Administration,FY17 - Public Expenditure Management,FY17 - Public Expenditure Policy,FY17 - Fiscal sustainability,FY17 - Fiscal Policy
okr.theme	FY17 - Economic Policy,FY17 - Public Sector Management
okr.topic	Finance and Financial Sector Development::Finance and Development
okr.topic	Macroeconomics and Economic Growth::Fiscal & Monetary Policy
okr.topic	Public Sector Development::Climate Change Policy and Regulation
okr.unit	EFI-AFR1-MTI-MacroFiscal-2 (EAEM2)