Gaolathe to Gaolathe: Budgeting through a crisis
Friday, February 07, 2025 | 310 Views |
Legacy: In 2009, Gaolathe faced a crisis similar to the one his son Ndaba is reckoning with PIC: PHATSIMO KAPENG & FILE PIC
Excerpts from the late Baledzi Gaolathe’s last budget speech are strikingly similar to the themes and statements made in more recent years by the country’s finance ministers when describing the generally leaner budget and economic trends.
At the time in 2009, Gaolathe was facing the global financial crisis, which would eventually lead to suspension of operations at Debswana, an uptick in unemployment, huge budget deficit and a 14.1% contraction in the economy, a historic low yet to be matched.
Acting Agriculture Minister, Edwin Dikoloti, is right in saying opening an export-ready facility whilst Foot and Mouth Disease (FMD) is still spreading would risk getting the whole country blacklisted before a single carcass leaves the door.A ban like that would break the already stressed nation. So, the postponement, painful as it is, is the right thing to do. The local economy is being squeezed from both ends. FMD has already slammed the door...