Government plugs budget deficit with domestic funds

Finance Minister Kenneth Matambo will not need to look outside for budget funding
Finance Minister Kenneth Matambo will not need to look outside for budget funding

Government has raised P5 billion from the domestic bond market as well as from drawing down of cash reserves at the central bank, ruling out the possibility of seeking foreign funding to plug this year’s P6 billion budget deficit.

Available statistics show that government has been regularly drawing down on its deposits at the Bank of Botswana (BoB) with P3 billion having been withdrawn in the first three months of the 2016/17 financial years.

On the other hand, at least P2 billion has been borrowed from the local capital markets since June this year through issuance of government bonds and Treasury Bills.

Editor's Comment
Gov't must guard against cadre deployment

As the Botswana National Front (BNF) discusses a policy to place suitably qualified members in strategic positions, the guiding consideration should remain whether an individual is the best person to serve the country. There is nothing wrong with qualified party members applying for public positions. Political affiliation should neither disqualify a capable candidate nor give them an advantage over others. Every Motswana deserves a fair...

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