Another budget surplus, but risks loom large

Tuesday, February 03, 2015

Running the numbers: Matambo in Parliament yesterday. PIC: TSELE TSEBETSAME

An anticipated 10 percent increase in mineral revenues is forecast to convey a fourth consecutive budget surplus this year, but the looming slowdown in the advanced and emerging economies could scupper fiscal projections, Finance Minister Kenneth Matambo told Parliament yesterday.

Presenting the 2015/16 budget speech, Matambo said domestic economic growth would this year slow down to 4.9 percent from 5.2 in 2014 with the non-mining sector expected to drive growth instead of the usual economic lifeblood, diamonds.

According to the minister’s projections, revenues will outweigh expenditure by P1.23 billion or 0.8 percent of GDP in the financial year.

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Another budget surplus, but risks loom large

An anticipated 10 percent increase in mineral revenues is forecast to convey a fourth consecutive budget surplus this year, but the looming slowdown in the advanced and emerging economies could scupper fiscal projections, Finance Minister Kenneth Matambo told Parliament yesterday.