By Phiwa Sikhondze
The Minister of Finance, Neal Rijkenberg says emaSwati should not read too much in media reports alleging that there is a cash flow crisis in the country.
Speaking during a media briefing at his office yesterday the Minister said he was shocked when he saw a headline in one of the local daily publications stating that there is a cash flow crisis in the country.
The Minister did, however, concede that there were financial constraints they came across but could not call it a crisis. He disclosed that the country received E2.9 billion in SACU receipts last week and that the Ministry is also expecting E500 million from the Johannesburg Stock Exchange listing next month (February 2024).
Rijkenberg disclosed what the E2.9 billion that came through the SACU receipts is being utilized for.
“E1.4 billion of the E2.9 billion received from SACU last week will go towards settling the Central Bank of Eswatini advance and the remainder will then be used to pay suppliers.”
The Minister assured the country that the situation is under control and that there is nothing to be worried about.
“From our end, everything is under control, civil servants will continue getting their salaries on time, and suppliers will be paid, we have also budgeted in advance for elderly grants and Free Primary Education, among many other expected payments,” the Minister noted.
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Ministry Of Finance Postpones Public Consultations on the National Budget
The public participation in the preparation of the national budget for the financial year 2024/25 has been postponed by the Ministry of Finance and the Planning and Budgeting Committee (PBC) in Eswatini.
In a press release issued by the Minister of Finance and Chair of the PBC, Neil Rijkenberg, the Ministry of Finance and PBC attributed the delay to the following.
“The fact that the year 2023 was an election year, has shortened the period over which we normally prepare the budget. The Budget Calendar has been affected negatively since the budget processes have to be sanctioned by the Cabinet and Parliament.”
“The need to accommodate other equally important activities such as the induction of the new Members of Parliament and Cabinet on some Government processes and programmes, including the budget, which tend to encroach into the Budget Calendar.”
“The need to engage more extensively with line Ministries in ensuring that their budget proposals are aligned to the Sibaya submissions, which further the budget; reduces the time available for the preparation and conclusion of the budget.”
The PBC, however, has invited the public to share their contributions towards the budget through various digital platforms, such as Facebook: Eswatini Government & Ministry of Finance Eswatini, email: info@pbceswatini.net, and the government website: https://www.gov.sz.
The PBC also announced that it is working on a programme to conduct physical public consultations later in 2024, to inform the budget for the financial year 2025/26.
The PBC expressed its appreciation for the call for public participation in the budget and asked for the public’s patience, cooperation, and understanding.