Swaziland unlikely to boost Maputo volumes

An economic recovery in

Swaziland, which would

potentially boost volumes through

Maputo, is not likely to happen

soon.

According to an executive board

assessment by the International

Monetary Fund (IMF),

macroeconomic conditions in the

kingdom have recently deteriorated.

“In 2016, two shocks – a

prolonged drought and a sharp

decline in SACU receipts –

severely hit the economy, while an

expansionary fiscal policy worsened

fiscal and external balances.

“Growth in 2016 stagnated, as

agricultural production declined,

and headline inflation increased

sharply, mostly due to rising food

prices.

“The outlook is fragile, with an

unsustainable fiscal policy,” states

the report.