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PUBLIC ENTERPRISES DECLINE CONTINUES AS BUDGET FAILS TO PROVIDE RESCUE PLAN

                                                                    

Finance Minister Neal Rikjernberg delivering the 2024/25 budget in the Eswatini Parliament at Lobamba (picture sourced from Eswatini Government social media platforms)

In recent times one of the most topical news has been the never ending financial sagas faced by public service institutions such as the University of Eswatini (UNESWA) ,the Southern African Nazarene University (SANU) the Raleigh Fitkin Memorial Hospital (Nazarene)  and several others.  UNESWA also faces a collapsing infrastructure from years of neglect due to unavailability of funds to repair and maintain the infrastructure.

The budget as read by Minister Neal Rikjernberg on the 26th February 2024 totalling E29.42 Billion didn't provide any iota of better prospects for the public institutions. The budget represented  an increase of 11% from the 2023/2024 budget that was placed at E26.7 Billion. This amount includes around E4.42 Billion in public debt repayments. 

From the 2024/25 budget UNESWA was awarded E456 312 806 an increase of E10 Million from the 2023/24 budget where they were awarded stood at E446 312 806. The SANU on the other hand were awarded E33 630 318 in the 2024/25 budget which represented an increase of just above E5million from E28 209 094 that had been awarded in the 2023/24 budget. The RFM hospital ,another suffering public institutions ,was awarded E219 237 951 and increase from E211 237 951.

The budget instead provided an unprecedented E6.5 Billion towards capital or infrastructure projects a large portion of which is expected to be poured into the International Convention Centre in Ezulwini.

All these budgeted figures are an indication that perhaps it can be expected that challenges will continue in the public institutions.

More reports are coming from the budget.

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