Mmegi

Deficit due to drop; more spending cuts due

Brainstorming: The Finance Ministry’s technocrats are holding budget meetings with various ministries and balancing requests with forecasts and priorities
Brainstorming: The Finance Ministry’s technocrats are holding budget meetings with various ministries and balancing requests with forecasts and priorities

Finance ministry technocrats expect the deficit for the current financial year to come in at P9.2 billion, rather than the original forecast of P22.1 billion, but more tightening of the fiscus is required going forward as the outlook for diamonds remains weak.

The insights are contained in the Budget Strategy Paper released this week. The annual research and estimates document is usually released in September and is a blueprint of the policies, numbers, and priorities underpinning the next budget.

This year, the paper is coming just weeks before the budget statement, due in early February, amidst reports that technocrats have been battling to crunch numbers, especially forecasts, as well as infuse the new administration’s policies into the budget development process.

Editor's Comment
Justice delayed is trust denied

Batswana who marched peacefully for 'Justice for Tshepi' demanded answers. They have now received a detailed account of police investigation and a promise that the file is with the Directorate of Public Prosecutions (DPP). The real test is whether the state now keeps its word without further prodding. In his address, the minister asked the nation to trust the process. He spoke of rigour, not neglect, and pointed to 10 months of...

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