Gov�t borrows P3bn from bond market

Matambo says budget deficits will be financed through domestic borrowings and drawing down on savings
Matambo says budget deficits will be financed through domestic borrowings and drawing down on savings

Government has raised about P3 billion from the bond market this year, funds that are expected to be used to help plug the budget deficit.

A budget deficit of P6.5 billion is forecast for the current financial year up from P2.35 billion announced by Finance Minister, Kenneth Matambo in February.

With government having ruled out tax increases to finance the deficit, the shortfalls will likely be covered by a combination of borrowing on the domestic market as well as drawing down on the Pula Fund at the central bank.

Editor's Comment
Batswana need to do better to stop FMD

It is a clear signal that the government’s purse is empty and that our own behaviour has left veterinary officials fighting with one hand tied behind their backs. We have been here before. During COVID-19, many of us thought we knew better. We ignored simple rules, we carried on as if the danger was someone else’s problem, and the virus took lives and left our economy on its knees. We are still broke from that experience. Yet now, with FMD...

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