Export uncertainties slow down Swazi economy

ALAN PEAT
THE SWAZILAND economy grew by 2.1% in 2004, which is a slower rate than the global economy (5%) as well as sub-Saharan Africa (3.2%).
There were several reasons for the disappointing growth rate, said minister of finance Majozi Sithole in his budget speech. These include the uncertainties surrounding the textile and apparel, and sugar sectors, two of the country’s important export sectors.
Growth was also slowed by the ongoing drought, lower output in the clothing industry, the HIV/Aids pandemic and the continued strength of the exchange rate.