Question NW666 to the Minister of Finance

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29 March 2019 - NW666

Profile picture: Carter, Ms D

Carter, Ms D to ask the Minister of Finance

Whether the Government entered into any agreement to assist the government of the Kingdom of eSwatini financially; if not, what is the position in this regard; if so, what are the relevant details of the financial assistance?

Reply:

1. The Government of South Africa has not entered into an agreement to provide the government of the Kingdom of eSwatini with financial support.

2. Moreover, should such a formal request be received, it would need to be considered within the context of the challenging macroeconomic climate as outlined in the 2019/20 Budget Review, which highlights the following challenges:

2.1 Subdued economic growth, forecast at 1.9 percent real GDP growth for 2019/20,

2.2 An increasing budget deficit (forecast to increase from 4,2 percent in 2018/19 to 4.5 percent in 2019/20); and

2.3 the resultant fiscal consolidation measures currently being undertaken by government (reduction of baselines by R50.3 billion) to ensure that public finances are returned to a sustainable path.

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