Matambo forecasts P8bn budget deficit for 2018

Matambo
Matambo

The Finance and Economic Development ministry expects the 2018-2019 budget to carry an P8.1 billion deficit, owing largely to slow growth in revenues and higher budgetary requirements by ministries.

The estimates are contained in the Budget Strategy Paper, a blueprint for the budget produced annually at least three months before the Budget Speech. 

The Paper is usually discussed at three dipitso before final ministerial feedback and submission of the proposed budget to Cabinet in December, ahead of the speech in February. Briefing stakeholders at the first pitso yesterday, Finance Minister, Kenneth Matambo said government was concerned about the widening budget deficits and would tighten spending supervision next year and beyond.

Editor's Comment
CoA brings sanity to DIS/DCEC long-standing feud

This decision follows the raiding of the office of the former Director General of the DCEC, Tymon Katlholo early 2022 and his staff officer by the DIS operatives who reportedly took files that they had targeted.After all back and forth arguments, the CoA has set the record straight giving an invaluable lesson to the DIS that it was no super security organ and it does not have any powers to cogently supervise other security organs including the...

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