Africa-Press – Eswatini. Ministry of Finance acting PS Busangani Mkhaliphi said the ministry was now in the process of implementing the reforms to restore financial stability and improve the fiscal space to facilitate private sector development and provision of public services.
Mkhaliphi said this during the launch of the State Owned Enterprises Reforms Project at the ministry’s offices yesterday.
She said over the past few years, Eswatini had been facing serious fiscal and cash flow challenges and this had significantly reduced the fiscal space for capital expenditure and social spending, making it difficult for the country to address the development challenges such as fighting poverty and the high level of unemployment.
“Cabinet in 2018 developed the Strategic Roadmap (2018-2022) and committed to implement a fiscal consolidation plan.
undertake
“The consolidation plan requires the ministry of finance to undertake key reforms that can address the structural impediments and restore the country’s fiscal sustainability and reset the economy onto a long-term growth trajectory,” she said.
Mkhaliphi stated that as a way of being in line with the government strategic roadmap, the ministry of finance engaged in a study to rationalise and streamline the performance of public enterprises in the economy. “The restructuring and rationalisation of Public enterprises (PEs/) parastatals provides a golden opportunity for a reset in order to position PEs as role models for public service delivery as well as to use them to drive value and wealth creation rooted on sustainability, good governance, innovation and organisational resilience,” she said.
She stated that the study had been concluded and the report approved by Cabinet, adding that the recommendation of the study included a review of the regulatory framework, redesigning of the governance and performance measurement system of the PE sector to improve productivity.
“This is a major project that requires an enormous capital injection for the implementation process in order for Government to realise the long-term benefits,” she said.
For More News And Analysis About Eswatini Follow Africa-Press
