El-Niño adds P1.3bn blow to budget woes
Friday, August 23, 2024 | 270 Views |
Heavy blow: The country’s delicate fiscal position will be further hurt by the need to finance drought relief measures
In June, President Mokgweetsi Masisi declared an “extreme agricultural drought” noting that 16,000 livestock deaths had been recorded countrywide over the summer, while cereal production dropped to just six percent of national demand.
The dry conditions associated with El Niño also caused 1,170 outbreaks of wildfires, affecting 855,861 hectares of land, an area more than 50 times the size of Gaborone city.
According to a report elsewhere in this publication, various district councils announced that a one-bedroom home now costs over P130,000 more, a near-unthinkable 32% increase. This isn't just a minor adjustment, but a devastating blow to the dream of affordable home ownership for ordinary citizens.What is most alarming is not just the scale of the increase, but the profound confusion it has exposed. Minister Ramogapi has publicly...