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Diamond slump: Budget likely to fall into deficit

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The prevailing weakness in the diamond market could potentially drag the 2015-2016 fiscal budget into a deficit.

Sluggish sentiment in the market has seen both De Beers and the Okavango Diamond Company (ODC) sales falling by over 20 percent in the first half of the year.

Backed by projections of a 10 percent growth in minerals revenues to P19 billion, Finance minister Kenneth Matambo in February, announced forecasts of a P1.23 billion 2015-2016-budget surplus.

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Editor's Comment
Celebrate responsibly, put safety first this holiday

“Safety first is safety always”– Charles M HayesAs most people begin travelling across the country to spend the President’s Holidays with family and friends, there is every reason to embrace the joy and togetherness that this period brings.While holiday periods bring joy, they are sadly often accompanied by a rise in road accidents, violent incidents and other avoidable tragedies. Too often, families that set out to celebrate together end...

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