Editing Economy of Eswatini (section)

==Economic growth==
Economic growth in Eswatini has lagged behind that of its neighbors. Real GDP growth since 2001 has averaged 2.8 percent, nearly 2 percentage points lower than growth in other [[Southern African Customs Union]] (SACU) member countries. Low agricultural productivity in the Swazi nation lands, repeated [[droughts]], the effect of [[HIV/AIDS]], and an overly large{{Clarify|reason=vague|date=June 2015}} and [[inefficient]] government sector are likely contributing factors. Eswatini's public finances deteriorated in the late 1990s following sizeable{{Clarify|reason=vague|date=June 2015}} surpluses a decade earlier. A combination of declining revenues and increased spending led to significant{{Clarify|reason=vague|date=June 2015}} [[budget deficit]]s. The considerable{{Clarify|reason=vague|date=June 2015}} spending has not led to more economic growth and has not benefitted the poor to the same extent as regional comparators, although the poverty headcount has shifted slightly during the first decade of the 2000s (SHIES 2010). Much of the increased spending has gone to current expenditures related to wages, transfers, and subsidies. The wage bill today{{When|date=June 2015}} constitutes over 15 percent of GDP and 55 percent of total public spending; these are some of the highest levels on the African continent. The recent{{When|date=June 2015}} rapid growth in SACU revenues has, however, reversed the fiscal situation, and a sizeable{{Clarify|reason=vague|date=June 2015}} surplus was recorded in 2006/07 and 2012/13. SACU revenues today{{When|date=June 2015}} account for over 50 percent of total government revenues. On the positive side, the external debt burden has declined markedly{{Clarify|reason=vague|date=June 2015}} over the last 20 years,{{When|date=June 2015}} and domestic debt is almost negligible; external debt as a percent of GDP was less than 20 percent in 2006.