The President of the African Development Bank (AfDB) Group, Donald Kaberuka., was on Thursday, 10 March 2011, received in audience by his Majesty King Mswati III, the Prime Minister and members of the Swaziland economic team.
Mr Kaberuka was in the country to confer with the authorities on the economic challenges facing the country, in particular the tough fiscal situation.
The President encouraged the authorities to quicken and deepen the pace of fiscal reforms by significant expenditure cuts and revenue generation.
He observed that the newly adopted fiscal adjustment plan marked a very good beginning to sustainable public finance.
The President also observed: “The current state of public finances is not sustainable. I welcome very much the willingness of the Authorities to adopt a fiscal sustainability plan which the Bank has supported”.
He commended the introduction of the Autonomous Revenue Authority and expenditure measure under discussion with the international institutions. The President reaffirmed that the African Development Bank was prepared to fund such a plan and work with Authorities to that end.