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.