Mid-term national budget in surplus

In the black: Despite Matambo predicting a P 6.5 billion deficit for the year, the budget was in surplus at half a year
In the black: Despite Matambo predicting a P 6.5 billion deficit for the year, the budget was in surplus at half a year

The national budget posted a cumulative surplus in the first six months of the 2017/18 financial year, largely on the back of higher mineral revenues, figures released by Bank of Botswana this week show.

The Botswana Financial Statistics (BFS) report for October reveals that at the end of the half-year period to September 2017, the budget posted a surplus of P107 million. At this point last year, the budget showed a cumulative deficit of P1.7 billion suggesting a healthier fiscal position in the current financial year.

Government financial year starts in April and ends the following March.

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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