More diamond money for capital projects

Friday, September 19, 2014

Government has increased the portion of diamond revenues that is directly channelled towards new development projects. This comes at a time when government moves to strike a balance in the use of income derived from natural resources, between current and future generation.

As part of a review of policy governing the use of public funds, government will from next financial year increase the percentage of mineral revenues allocated to capital projects in each annual budget from 50 to 60 percent.

Speaking at the Stakeholders Pitso for the 2015/16 national budgets held in Gaborone yesterday, Secretary for finance and economic policy in the Ministry of Finance, Taufila Nyamadzabo, announced a revision of the fiscal rule effective next year.

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More diamond money for capital projects

Government has increased the portion of diamond revenues that is directly channelled towards new development projects. This comes at a time when government moves to strike a balance in the use of income derived from natural resources, between current and future generation.