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Budget could need P8bn cut – Econsult

Friday, August 09, 2024 | 380 Views |

Juggling act: Serame has difficult decisions ahead due to the downturn in diamonds

Researchers at Econsult estimate that spending in the mammoth 2024–2025 budget may need to be cut by up to P8 billion, as diamond revenues fall while the fiscal space for debt funding remains limited.

In their most recent economic review, Econsult researchers, Keith Jefferis and Sethunya Kegakgametse, said the government’s approved spending for 2024–2025 of P102 billion would likely produce a deficit as high as P17 billion, due to the contraction in mineral revenues this year.

Jefferis, a former Bank of Botswana deputy governor, completed a posting to the Finance ministry as a senior policy advisor, a few years ago.

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