Deficit reaches P2.4bn at fiscal year halfway point

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.