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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.

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Editor's Comment
Celebrate responsibly, put safety first this holiday

“Safety first is safety always”– Charles M HayesAs most people begin travelling across the country to spend the President’s Holidays with family and friends, there is every reason to embrace the joy and togetherness that this period brings.While holiday periods bring joy, they are sadly often accompanied by a rise in road accidents, violent incidents and other avoidable tragedies. Too often, families that set out to celebrate together end...

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