According to the word that I covenanted with you when ye came out of Egypt, so my spirit remaineth among you: fear ye not.

Wesley's Notes

2:5 My spirit - Of strength and courage, of wisdom and understanding.

Jamieson-Fausset-Brown Bible Commentary

5. According to the word that-literally, "(I am with you) the word (or thing) which I covenanted"; that is, I am with you as I covenanted with you when ye came out of Egypt (Ex 19:5, 6; 34:10, 11). The covenant promise of God to the elect people at Sinai is an additional motive for their persevering. The Hebrew for to "covenant" is literally "to cut," alluding to the sacrificial victims cut in ratification of a covenant.

so-or, "and."

my Spirit remaineth among you-to strengthen you for the work (Hag 1:14; Zec 4:6). The inspiration of Haggai and Zechariah at this time was a specimen of the presence of God's Spirit remaining still with His people, as He had been with Moses and Israel of old (Ezr 5:1; Isa 63:11).

Matthew Henry's Concise Commentary

2:1-9 Those who are hearty in the Lord's service shall receive encouragement to proceed. But they could not build such a temple then, as Solomon built. Though our gracious God is pleased if we do as well as we can in his service, yet our proud hearts will scarcely let us be pleased, unless we do as well as others, whose abilities are far beyond ours. Encouragement is given the Jews to go on in the work notwithstanding. They have God with them, his Spirit and his special presence. Though he chastens their transgressions, his faithfulness does not fail. The Spirit still remained among them. And they shall have the Messiah among them shortly; He that should come. Convulsions and changes would take place in the Jewish church and state, but first should come great revolutions and commotions among the nations. He shall come, as the Desire of all nations; desirable to all nations, for in him shall all the earth be blessed with the best of blessings; long expected and desired by all believers. The house they were building should be filled with glory, very far beyond Solomon's temple. This house shall be filled with glory of another nature. If we have silver and gold, we must serve and honour God with it, for the property is his. If we have not silver and gold, we must honour him with such as we have, and he will accept us. Let them be comforted that the glory of this latter house shall be greater than that of the former, in what would be beyond all the glories of the first house, the presence of the Messiah, the Son of God, the Lord of glory, personally, and in human nature. Nothing but the presence of the Son of God, in human form and nature, could fulfil this. Jesus is the Christ, is He that should come, and we are to look for no other. This prophecy alone is enough to silence the Jews, and condemn their obstinate rejection of Him, concerning whom all their prophets spake. If God be with us, peace is with us. But the Jews under the latter temple had much trouble; but this promise is fulfilled in that spiritual peace which Jesus Christ has by his blood purchased for all believers. All changes shall make way for Christ to be desired and valued by all nations. And the Jews shall have their eyes opened to behold how precious He is, whom they have hitherto rejected.