Econsult raises alarm on fiscal sustainability
Friday, May 03, 2024 | 420 Views |
Watching the numbers: Serame announced a considerable deficit in February that she plans to finance through domestic borrowing
Generally, Botswana is known for its prudent fiscal policy, with excess government earnings being saved or invested in offshore accounts to shield the mineral dependent economy from rainy days. Despite this track record, the government has, in recent years, been withdrawing significantly from these savings to finance national budget gaps.
The situation has decreased the economy’s resilience in the face of future shocks.
It seems some government accounting officers, sworn to tell "the truth, the whole truth, and nothing else but the truth" before Almighty God, may have deliberately lied during the committee’s vital work. If proven, this is not merely unprofessional; it is perjury, a serious criminal offence and it strikes at the very heart of responsible government.The PAC’s role is fundamental. After each financial year, it painstakingly examines how public...