Mmegi

Gaolathe to Gaolathe: Budgeting through a crisis

Legacy: In 2009, Gaolathe faced a crisis similar to the one his son Ndaba is reckoning with PIC: PHATSIMO KAPENG & FILE PIC
Legacy: In 2009, Gaolathe faced a crisis similar to the one his son Ndaba is reckoning with PIC: PHATSIMO KAPENG & FILE PIC

In his 2009 budget speech, the late Baledzi Gaolathe forecast a deficit of P13.4bn due to the global financial crisis. His son, Ndaba, is due to announce a shortfall of more than P10bn on Monday. Both have had to deal with fiscal crises, but the younger Gaolathe has less room to manoeuvre, writes MBONGENI MGUNI

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.

Editor's Comment
A promising step for public schools, but...

For too long, the state of many public schools has been a source of shame. We have all seen the pictures and heard the stories of broken windows, unreliable water and electricity, topped by classrooms that are not fit for proper learning. The establishment of the Education Infrastructure and Management Company Ltd (EIMC) signals that authorities are finally ready to take this problem seriously. We must commend the government for this initiative....

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