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
Depression is real; let's take care of our mental health

It is not uncommon in this part of the world for parents to actually punish their children when they show signs of depression associating it with issues of indiscipline, and as a result, the poor child will be lashed or given some kind of punishment. We have had many suicide cases in the country and sadly some of the cases included children and young adults. We need to start looking into issues of mental health with the seriousness it...

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