Fiscal boost as diamond sales recover

Friday, January 13, 2017

Shot in the arm: Finance misnister Kenneth Matambo is expected to deliver the 2017/ 18 budget speech next month PIC: TSELE TSEBETSAME

Diamond sales appear to have registered a notable recovery in 2016, a development that will be music to the ears of fiscal authorities faced with a forecast P6-billion-budget deficit in the financial year ending this March.

Latest financial statistics from the Bank of Botswana show that, thanks to higher mineral revenues, the national budget recorded a P1.65 billion quarterly surplus in the three months ending September 2016.

This was the first quarterly budget surplus since the three months ending March 2015 and it was largely driven by P14 billion tax revenue, which includes mineral royalties and dividends.

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Fiscal boost as diamond sales recover

Diamond sales appear to have registered a notable recovery in 2016, a development that will be music to the ears of fiscal authorities faced with a forecast P6-billion-budget deficit in the financial year ending this March.