BY MBONO MDLULI
LOBAMBA – Government will put an amount of E1.5 billion into the SACU Stabilisation Fund.
Currently, the fund has close to E1 billion, according to Minister for Finance Neal Rijkenberg. When delivering the Budget Speech yesterday, Rijkenberg stated that the SACU Stabilisation Fund was needed so that it could be used during such times when the revenue from SACU had decreased. He urged the nation not to be carried away by the increased SACU receipts that the country would get during the 2024/25 financial year.
“Although we have achieved record SACU receipts, it is equally important to understand the underlying consequences of the volatility of SACU revenues,” Rijkenberg said. He said the fund would serve as a cushion during uncertain times.
“A SACU Stabilization Fund has now been established to cushion against future fluctuations in our SACU receipts. Close to a billion Emalangeni is already in the fund, and we plan to increase this with another E1.5 billion in the 2024/25 financial year,” he said.
Finance Minister, Neal Rijkenberg affirmed government’s commitment to strengthening this fund, highlighting its strategic importance in securing the nation’s economic resilience. The Minister had pronounced Government’s intention to bolster the fund, aligning with efforts to reach a target of E1.5 billion for the fund.
