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GIA plummets as deficit now seen at P29bn

Friday, May 09, 2025 | 900 Views |

Dicey times: The Finance Ministry is scrambling to keep government finances ticking over

Government has drawn down its savings housed in the Government Investment Account (GIA) to a meagre P250 million, as widening deficits force it to dig deep into its pockets to finance budgetary shortfalls — a crisis which has driven capital markets into a crunch.

With diamonds, the mainstay sector of Botswana’s economy, remaining protracted with no clear recovery in sight, government faces dwindling revenues that is burning up savings held by the Bank of Botswana (BoB) known as the GIA.

Government has been forced to draw down heavily on the GIA to meet its budgetary requirements, whilst also failing to replenish the account due to low mineral sales.

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GIA plummets as deficit now seen at P29bn

Government has drawn down its savings housed in the Government Investment Account (GIA) to a meagre P250 million, as widening deficits force it to dig deep into its pockets to finance budgetary shortfalls — a crisis which has driven capital markets into a crunch.

Human rights are sacred

Bakgatla Ba Kgafela celebrate as Kgosi Kgafela’s charges are dropped

First Lady's office hosts second annual thanks giving ceremony

PSLE performance on upward trend

Bona Life tee-off Maruapula Loxion Golf journey

Cops arrest young man, seize dagga in Metsimotlhabe

Second Mogoditshane rape attack in two weeks

Suspected suicide behind Sir Seretse Khama Barracks

Human rights are sacred