Swaziland has failed to attract foreign direct investment (FDI) into the country, with investors prefering to invest in South Africa, the tiny kingdom's neighbour, news reports said.
The Swaziland Central Bank's 1998/1999 annual report said the slowdown in the inflow of FDI has led to the decline in the country's economic growth from 3.7 percent in 1997 to 2.3 percent in 1998. "Viewed against an estimated population growth of 2.7 percent per annum, this implies further worsening of the standard of living of the average Swazi people," the
Central Bank said.
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