Deficit reaches P2.4bn at fiscal year halfway point

Public finances continued to be weak in the first half of the 2019/20 fiscal year, recording a cumulative deficit of P2.4 billion as revenues fell and spending rose

Finance and Economic Development ministry statistics published by the Bank of Botswana this week show that while the first quarter of 2019/20 enjoyed a P2.2 billion surplus, the second quarter sank to a P4.5 billion shortfall, resulting in the cumulative deficit of P2.4 billion.

The numbers indicate that over the two quarters, revenues amounted to P30.5 billion while expenditure reached P32.9 billion. The game changer between the quarters was a once-off P4.3 billion windfall received by government from the central bank as residual income in April 2019 which helped the first quarter to a surplus.

Editor's Comment
CAF is a joke, but...

We are told of massive spin-offs for hosting countries, which we assume was the catalyst behind putting in the bid.We are not too sure if it is a one-size fits all, where any hosting nation reaps the benefits or it’s on a case-by-case basis.There are arguments from both ends, with hosting a sure way to accelerate infrastructure development and a guaranteed cash flow during the 30-days of the tournament.There is a bump in employment creation...

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