SADC requires powerful fiscal buffer measures – Swazi PM
By Gugu Mahlalela
EZULWINI – Swaziland’s Prime Minister Sibusiso Dlamini said the SADC region needs to act collectively to create powerful fiscal defensive measures.
The premier made the call due to the fact that the region’s fiscal space had narrowed significantly and already limited subsequent to the drought and other calamities.
Dlamini was speaking during the opening of SADC Ministers of Finance and Investment and Peer Review Panel Meetings held at the Royal Villas in Ezulwini on August 2, 2017.
He said the SADC ministers for finance whom he referred to as ‘custodians of the purse of strings,’ face a stern task of achieving and managing fiscal stability in a region that has recently endured the drought and other disasters that have seriously damaged economies, imposed serious hardships to the citizens.
“As ministers of finance you are left with the unenviable task of balancing the books after calamities that have negatively impacted on our fiscal positions when we have lacked the buffer against such events.
“The fiscal space, already limited, has narrowed significantly. Hence the need for our region to act collectively in creating powerful defensive measures,” he said.
The region’s central bank governors also attended the meeting, presided over by Swaziland‘s Minister of Finance Martin Dlamini, the incumbent chairman of the SADC finance ministers.
SADC Executive Secretary Dr. Stergomena Lawrence Tax stressed on the importance of focusing on resource mobilisation for the implementation of the different programmes aimed at improving region. “Without resources, our efforts will be in vain,” she said.
Minister Dlamini commended the efforts of the Secretariat to organise the meeting to engage and extend ideas on how member states could work together to promote sustainable development.
He said the presence of the prime minister reflects how he values and support regional integration.
Other notable participants during the meeting included South African Finance Minister Malusi Gigaba and South African Reserve Bank (SARB) Governor Lesetja Kganyago. The meeting was also attended by senior treasury officials and company chief executive officers