Mmegi

Stop the bleeding, Econsult urges gov’t

In the news: The Finance Ministry is battling to balance the budget figures
In the news: The Finance Ministry is battling to balance the budget figures

Leading economic consultancy firm, Econsult, says there is an urgent need for the new government to rein in spending, as the budget haemorrhages from a deficit that could reach P18.7 billion this financial year.

For the financial year 2024–2025, government had planned to spend a record P102.3 billion against revenues of P93.6 billion. The downturn in diamonds has meant that revenues have missed their forecasts by a wide mark, whilst the cutback in spending to limit the deficit, has been insufficient.

In an economic update covering the fourth quarter of 2024, Econsult, a firm led by former Bank of Botswana deputy governor Keith Jefferis, estimated that government was incurring a P2 billion shortfall every month due to the squeeze on main revenue drivers this year.

Editor's Comment
Our digital safety is in our hands

That sounds like good news. But the report also warns that this may simply be because our digital economy is still young, not because we are safe. As more people shop, bank and pay online, criminals will follow.We Batswana do not need a report to tell us that danger is real. Many of us have heard of or fallen victim to KYC scams. A caller impersonates your bank or mobile money provider. They say they need to “verify” your account. They ask...

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