Government plugs budget deficit with domestic funds

Friday, October 21, 2016

Finance Minister Kenneth Matambo will not need to look outside for budget funding

Government has raised P5 billion from the domestic bond market as well as from drawing down of cash reserves at the central bank, ruling out the possibility of seeking foreign funding to plug this year’s P6 billion budget deficit.

Available statistics show that government has been regularly drawing down on its deposits at the Bank of Botswana (BoB) with P3 billion having been withdrawn in the first three months of the 2016/17 financial years.

On the other hand, at least P2 billion has been borrowed from the local capital markets since June this year through issuance of government bonds and Treasury Bills.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

Gaborone West Police Station is investigating the murder of 31-year-old police officer, Neo Tebogo Mogatsaseno. She was killed on April 15 by her alleged boyfriend, Warona Koloka, a soldier.

Soldier faces charge for cop's murder

Larona Makhaiza | 1 h ago

Batswana join global search for HIV cure

Mbongeni Mguni | 12 Apr 2024

Win propels Galaxy five points clear

Larona Makhaiza | 20 h ago

Mobile money reaches P26bn

Mbongeni Mguni | 1d ago

BAC forges path in Data Intelligence

Phatsimo Kapeng | 1d ago

ODC gives BNOC P500,000 for Olympics

Calistus Kolantsho | 1d ago

Gaothusi's new crown not influenced by public criticism - Miss Botswana

Larona Makhaiza | 1d ago

GIS opens P76million facilities

Kabelo Boranabi | 1d ago

Routine child vaccination imperative

The recent Vaccination Day in Motokwe, orchestrated through collaborative efforts between UNICEF, USAID, BRCS, and the Ministry of Health, underscores a commendable stride towards fortifying child health services.The painful reality as reflected by the Ministry of Health's data regarding the decline in routine immunisation coverage since the onset of the pandemic, is a cause for concern.It underscores the urgent need to address the...

The Monitor Editor | 15 April 2024

About us

Mmegi is the leading independent source of breaking news, latest news, current
affairs, Politics, Business, Sport, debates, analysis, and entertainment news in Botswana.

Explore

More