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government has been regularly drawing down on its deposits at the Bank of Botswana (BoB) with P3 billion having been withdrawn in the first three months of the 2016/17 financial years.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
Botswana must not be a flag of convenience for rogues

‘A man’s country is not a certain area of land, of mountains, rivers, and woods, but it is a principle and patriotism is loyalty to that principle’.- George William CurtisAccording to the report carried in this publication, the fraudsters operating the so-called “dark fleet” have selected Botswana’s flag as their cover of choice. This is a direct assault on our country’s most valuable asset, the good name.For decades, Botswana has...

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