ESWATINI’S PUBLIC DEBT SURPASSES 40% OF GDP

MBABANE - Eswatini’s total public debt reached E35.5 billion in December 2024, translating to 40.7 per cent of gross domestic product (GDP).
As at the end of December 2024, public external debt stood at E16.1 billion or 18.5 per cent of GDP.  This shows an increase of 1.0 per cent when compared to E16.0 billion recorded in November 2024. The rise in public external debt was due to drawdowns made from on-going project loans in the month under review. Public domestic debt stood at E19.4 billion an equivalent of 22.2 per cent of GDP at the end of December 2024.

Additional

Domestic debt grew by 3.7 per cent month-on-month to E19.4 billion, driven by an additional E600 million advance from the Central Bank. External debt increased slightly to E16.1 billion, reflecting a 1 per cent rise due to ongoing project loan disbursements. The country’s debt portfolio remains a mix of Treasury Bills, government bonds, and loans.
Treasury Bills accounted for E3.5 billion, while bonds amounted to E12 billion. The Central Bank and commercial banks dominate short-term securities, while non-bank financial institutions hold the bulk of longer-term instruments.

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