Credit ratings slip a notch

From a deficit of P13.48 billion in the current financial year, government will need to sustain another P12.1 billion deficit in the 2010/11 period, arising from an unprecedented drop in government revenues paired against the need to finance economic imperatives such as health, education and development.

On Monday, Standard & Poor's announced that Botswana's expansionary fiscal policy and running deficits had contributed to the downgrading of its credit rating.