Higher revenues help ease deficit by 30%

Friday, June 11, 2021

No relief: Despite the lower deficit, Serame still has to provide for the projects this year PIC: THALEFANG CHARLES

Higher fourth-quarter revenues as well as underspending in the development budget helped the 2020-2021 deficit fall from a forecast record of P21 billion to P14.6 billion, BusinessWeek has learnt.

At its forecast level, the 2020-2021 deficit would have been equal to about 12% of GDP, a situation former Finance and Economic Development minister, Thapelo Matsheka described as “an extremely serious deterioration in our fiscal position”.

This week, estimates from the ministry indicated the actual deficit for 2020-2021 had improved from the forecast made in the February budget, although still in dangerous territory for fiscal authorities.

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Higher revenues help ease deficit by 30%

Higher fourth-quarter revenues as well as underspending in the development budget helped the 2020-2021 deficit fall from a forecast record of P21 billion to P14.6 billion, BusinessWeek has learnt.

The audacity to be a unicorn

Faulty gadgets top complaints to BOCRA

Civil Society fights 'flawed' constitutional amendment

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IEC rejects 2,513 registrations

Motshegwa prevails against detractors

Serowe woman ingests acid, attempts suicide

Serowe man 'loses' P1m in trading

Inspect the voters' roll!