Assessing Swaziland’s Fiscal Sustainability and Policy Options

Table 2

Evolution of key macroeconomic variables (GDP ratios).

	Tax	Expenditure	Primary surplus	Debt	Growth	Interest rate
2000	0.24	0.27	0.004	0.21	0.10	0.03
2001	0.24	0.29	−0.004	0.22	0.02	0.04
2002	0.24	0.30	−0.015	0.30	0.02	0.06
2003	0.26	0.30	−0.006	0.23	0.02	0.05
2004	0.30	0.34	−0.022	0.21	0.03	0.05
2005	0.32	0.34	−0.005	0.17	0.02	0.06
2006	0.38	0.30	0.084	0.15	0.03	0.06
2007	0.35	0.32	0.084	0.17	0.04	0.06
2008	0.37	0.38	0.024	0.15	0.02	0.06
2009	0.33	0.40	−0.052	0.17	0.01	0.06
2010	0.22	0.37	−0.116	0.13	0.02	0.07
2011	0.23	0.34	−0.100	0.17	0.01	0.08
2012	0.24	0.33	−0.051	0.17	0.01	0.08

Source: MoF, Government of Swaziland.
Except interest rates and GDP growth.