Debswana mega-projects widen 2018/19 deficit by P2.2bn

Friday, September 21, 2018

Matambo says running deficits are unsustainable

The funding of two mega projects at Jwaneng and Orapa from government’s share of Debswana’s profits this year, will inflate the forecast 2018/19 deficit from P2.4 billion to P4.6 billion, Finance Ministry papers indicate.

The forecasts are contained in the 2019/20 Budget Strategy Paper unveiled by the ministry on Tuesday. Released every September, the Strategy Paper is the official blueprint for the national budget, forming the basis of the budgeting processing for the next financial year.

Each year, the paper’s release marks the beginning of the budgeting process through line ministries, stakeholders and local government.

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