'Govt should have used credit rating and reserves to borrow'

Contributing during a Botswana Confederation of Commerce, Industry and Manpower (BOCCIM) budget review meeting at Bosele Hotel on Wednesday here, Mphathi, said borrowing was a better option than depleting the foreign reserves.

The Minister of Finance and Development Planning, Baledzi Gaolathe, announced a budget deficit of P13 billion, which he said would be financed through tapping into the country's foreign reserves of P72 billion. In addition, Gaolathe said the government would borrow from both domestic and international markets.