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.

Editor's Comment
Botswana must not be a flag of convenience for rogues

‘A man’s country is not a certain area of land, of mountains, rivers, and woods, but it is a principle and patriotism is loyalty to that principle’.- George William CurtisAccording to the report carried in this publication, the fraudsters operating the so-called “dark fleet” have selected Botswana’s flag as their cover of choice. This is a direct assault on our country’s most valuable asset, the good name.For decades, Botswana has...

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