Budget deficit seen narrowing in 2016

An expected weighty jump in non-mineral taxes is seen narrowing next year’s budget deficit to 0.03 percent of Gross Domestic Product (GDP) from a projected 2.6 percent shortfall this year.

In a revised 2016-2017 Budget Strategy Paper (BSP) released yesterday, the Ministry of Finance and Development Planning said the proposed budget for 2016-2017 financial year projects total revenues and grants to reach P55.69 billion, an increase of 3.1 percent from the 2015-2016 original budget estimates of P54 billion.

Non-mineral revenue is projected to record the highest growth of 10.4 percent to P10.32 billion.

Editor's Comment
Batswana need to do better to stop FMD

It is a clear signal that the government’s purse is empty and that our own behaviour has left veterinary officials fighting with one hand tied behind their backs. We have been here before. During COVID-19, many of us thought we knew better. We ignored simple rules, we carried on as if the danger was someone else’s problem, and the virus took lives and left our economy on its knees. We are still broke from that experience. Yet now, with FMD...

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