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
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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