Higher BoB revenues pull budget out of deficit

Bank of Botswana
Bank of Botswana

A three-fold jump in expected payments from the Bank of Botswana (BoB) saw the national budget for the year ended March 31, 2017 swing from a projected deficit to a surplus.

In the last State of the National Address before he leaves office next year, President Ian Khama on Monday said the final estimates for the 2016/17, government budgets show a surplus of P1.1 billion, compared to a revised budget estimate of a deficit of P1.12 billion.

The Ministry of Finance and Economic Development was expecting to run budget deficits from 2015 to 2020, and the new surplus figures break the deficits forecast.

Editor's Comment
No room for perjury

It seems some government accounting officers, sworn to tell "the truth, the whole truth, and nothing else but the truth" before Almighty God, may have deliberately lied during the committee’s vital work. If proven, this is not merely unprofessional; it is perjury, a serious criminal offence and it strikes at the very heart of responsible government.The PAC’s role is fundamental. After each financial year, it painstakingly examines how public...

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