Long-delayed fiscal reforms become unavoidable

Changing times: Both mining and non-mining revenues have been declining over the years GRAPH: FINANCE MINISTRY
Changing times: Both mining and non-mining revenues have been declining over the years GRAPH: FINANCE MINISTRY

Government is pushing ahead with fiscal reforms which include cutting the civil service wage bill, but critics say it should look more closely at wastage and corruption within the system. Staff Writers, MBONGENI MGUNI & PAULINE DIKUELO report

Those charged with managing the national purse say the space for delaying reforms which include reducing the civil service wage bill, rationalising parastatals and plugging leakages in public finances, has run out. A possible global slowdown, with effects similar to the 2008 shock, is part of several driving forces. Staff Writers, MBONGENI MGUNI & PAULINE DIKUELO report

The US Federal Reserve on Tuesday evening raised interest rates in that country by another 75 basis points, the fifth such decision this year for the world’s single most important central bank. While the increase was expected, the comments by Federal Reserve chairman, Jerome Powell, were ominous, particularly for countries such as Botswana for whom the health of the US economy is directly tied to the performance of the budget.

Editor's Comment
Implement the recommendations Mr. President

The nation is eagerly awaiting this report to have a glimpse of what the recommendations are like, possibly for further debate. Mr. President, it’s our ardent hope that true to your promises, the public will have an opportunity to peruse the report and see if it reflects their interests as the Commission went around the length and breadth of the country collecting views of the people with some choosing to write to the Commission’s...

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