[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-109189-en":3,"doc-seo-109189-105":31,"detail-sidebar-cat-0-en-105":93},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":28,"seo_description":14,"update_tm":29,"read_time":30},109189,962075006959,"Anda","https://ap-avatar.wpscdn.com/avatar/e0002397efbe92a78e?_k=1776741047341049297",8,"Research & Report","Eswatini Country Economic Memorandum - In search of the drivers of inclusive growth","Eswatini has recorded weak growth over the past twenty years, with limited inclusion since 2000. A new strategy is needed to build physical and human capital while using these resources more efficiently and inclusively. Drawing on economic theory and lessons from peer countries, the memorandum identifies five mutually reinforcing drivers for inclusive growth and calls for bold, policy-focused reforms. It also outlines diagnostics, forecasting, benchmarking, and lessons from similar economies.","1  \nPub lic Disclosure Authorized Pub lic Disc losu re Authorized Pub lic Disclosure Authorized  \nESWATINI  \n# Country Economic Memorandum: Insearch of the drivers of inclusive growth\n\nMay 2024  \ned  \n# Acknowledgements\n\n• The Eswatini Economic Memorandum“In the search of the drivers of inclusivegrowth”was co-led by Jacques Morisset (Lead Economist, Equitable Growth,Finance, and Institutions Program Leader); Javier Baez (Poverty LeadEconomist); Marko Kwaramba (Senior Economist) and Dumisani Ngwenya(Economist) .  \n• The report benefitted from inputs by World Bank experts, including (byalphabetical order): Ajai Nair (Senior Financial Sector Specialist ); Anne -Elisabeth Sarah Costafrolaz (Digital Development Specialist); Bernard Aritua(Lead Transport Specialist); Carolina Diaz-Bonilla (Senior Poverty Economist);Bekele Debele (Sector Leader for Sustainable Development andInfrastructure); Consolate Rusagara (Finance, Competitiveness and InnovationPractice Manager); Elizabeth Ninan (Human Development Program Leader);Hartwick Tchale (Senior Agriculture Economist); Karla Gonzalez Carvajal(Transport Practice Manager); Marc Schrijver (Senior Financial SectorSpecialist); Michael Ehst (Senior Private Sector Specialist); Nadia Taobane(Senior Energy Specialist); Olive Umuhire Nsababera (Poverty Economist);Omowunmi Ladipo (Governance Practice Manager); Paul Seaden (SeniorDigital Development Specialist); Smita Kuriakose (Lead Private SectorSpecialist); and Steven Michael Pennings (Senior Economist) . Assistance wasprovided by Nani Makonnen and Simangele Batiti Nkambule.  \n• The team jointly worked with Ministry of Economic Planning and Development(MEPD) and Central Bank. The team worked closely with Sifiso Mamba (ChiefEconomist, MEPD); Nombuso Tsabedze (Principal Economist, MEPD); MceboZikalala (Principal Economist, MEPD) and Welcome Nxumalo (Principal Economist,Central Bank) . The team extends gratitude to the Eswatini cabinet members, whoprovided feedback during the cabinet retreat.  \n• The team is grateful to the two peer reviewers, Yutaka Yoshino (Economic Adviser)and Jakob Engel (Senior Economist), for their useful comments. The collection ofinternational best practices was made possible by the contributions from MarcSchiffbauer (Lead Economist), Marc Forni (Lead Urban Specialist); Nadia Rocha(Lead Economist); and Jean-Christophe Maur (Senior Economist) .  \n• The report was finalized under the collective guidance and leadership of SatuKahkonen (Country Director), Marie-Francoise Marie-Nelly (former CountryDirector); Hassan Zaman (Equitable Growth, Finance, and Institutions RegionalDirector); Asad Alam ( former Regional Director); Asmeen Khan (OperationsManager), Marco Hernandez (Macroeconomics, Trade, and Investment PracticeManager); Pierella Paci (Poverty Practice Manager), Ikechi B. Okorie (Resident  \nRepresentative), and Wakhile Mkhonza (Senior Operation Officer) .  \n2  \n# Key messages\n\n1  \n2  \n3  \n4  \n5  \nEswatini has underperformed over the past twenty years as demonstrated by its low growth trajectory and limited inclusionsince 2000.  \nAdopting a new comprehensive strategy that accumulates more physical and human capital, while ensuring a more efficientand inclusive use of these resources, will be critical for Eswatinito meet its development aspirations.  \nEconomic theory and experiences from aspirational peer countries (Singapore, Mauritius, Estonia and Costa Rica)emphasize five mutually reinforcing drivers to boost inclusive growth: (i) a dynamic and innovative private sector; (ii) askilled and healthy workforce; (iii) finance forthe private sector; (v) digital and physical connectivity to enlarge markets; and (v)a more effective government.  \nJump starting these drivers will require bold changes in policies and innovative approaches to achieve immediate resultsand create momentum for reforms.  \nBuilding on its existing economic base, fostering a modern service sector could be a game changer, especially digital servicesand touri","cbCaidWAG6A1kAK7","https://ap.wps.com/l/cbCaidWAG6A1kAK7","pdf",6641054,5,1,98,"English","en",105,"# Acknowledgements\n# Key messages\n# Why this report?\n## Box (1): The Underlying conceptual approach of this report","[{\"question\":\"Why does the memorandum say Eswatini underperformed over the past twenty years?\",\"answer\":\"It points to a low growth trajectory and limited inclusion since 2000 as key indicators of underperformance.\"},{\"question\":\"What strategy does the memorandum propose to achieve more inclusive growth?\",\"answer\":\"It recommends adopting a comprehensive strategy that accumulates more physical and human capital while improving the efficiency and inclusiveness of how these resources are used.\"},{\"question\":\"Which drivers does the memorandum highlight as essential for inclusive growth?\",\"answer\":\"It emphasizes five mutually reinforcing drivers: a dynamic and innovative private sector, a skilled and healthy workforce, finance for the private sector, digital and physical connectivity, and a more effective government.\"}]","Eswatini Country Economic Memorandum - 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