Times Of Swaziland: KING WANTS REALISTIC BUDGET

KING WANTS REALISTIC BUDGET
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BY BONISILE MAKHUBU on 17/02/2018 15:27:00


LOBAMBA – Budget estimates could be a thing of the past as the King has called
for a budget based on reality. In less than two weeks the country will learn how
much government has allocated for the 2018/2019 financial year when Finance
Minister Martin Dlamini tables the Appropriation Bill before Parliament.
Speaking during the official opening of the fifth session of the 10th Parliament
yesterday the King said, “Government is encouraged to prepare a budget that is
based on available resources as opposed to funds yet to be collected as this
affects its ability to pay service providers.”
He said this did not only affect service providers but it also affected the
implementation rate of programmes and projects that have been planned for that
particular financial year.
He observed that it was critical for government to diversify the economy with
multibillion Emalangeni industries, which would reduce our dependence on SACU.
“As a country, which is peaceful and destined for First world, we should be
able to create an enabling environment for foreign direct investment.”
In his analysis of the country’s economic status the King noted that the
country experienced positive economic growth of 1.9 per cent in 2017.
This was an upward revision to the earlier projection of 1.0 per cent and higher
than the 2016 growth estimates of 1.4 per cent. His Majesty said government has
identified some quick-win initiatives that promise a positive impact on economic
growth and development.
“These include but not limited to; the extension of border operating hours;
identification and use of farms for investment purposes; the development of
greater Sikhuphe area; among other projects.”
He pointed out that the negative risks surrounding the current fiscal challenges
had to be managed effectively in order to realise the full gains from these
projects.
Adding he said, “Government is encouraged to prepare a budget that is based on
available resources as opposed to funds yet to be collected as this affects its
ability to pay service providers.”