A bird’s eye view of the 2023 Budget Speech
Friday, February 10, 2023 | 650 Views |
![Fiscal think tank: The Finance Ministry's proposals will be finalised after legislators’ debates](https://cdn4.premiumread.com/?url=https://www.mmegi.bw/mmegi/uploads/images/2023/02/10/64203.jpg&w=800&q=72&f=jpg&t=1)
Fiscal think tank: The Finance Ministry's proposals will be finalised after legislators’ debates
Despite anticipated deceleration of global economic growth in 2022 and 2023 by 3.4% and 2.9%, respectively, Botswana strongly rebounded from the adverse effects of the pandemic posting growth of 11.8% in 2021 with growth projected to 6.7% and 4% in 2022 and 2023, correspondingly.
While inflation was significantly above the Bank of Botswana’s target of 3-6% in 2022, mitigating measures such as interest hikes, temporary reduction in VAT rate and zero rating of some food commodities helped to arrest the acceleration of inflation, leaving it at 12.4% in December.
The BDP as a party known to have ample resources has always held its primaries well in time, but this time around that was not the case. The first leg of the primaries was held last weekend, with the final leg being billed for the coming weekend. This time around, the BDP failed to shine in its primary elections. The elections were chaotic; most if not all polling stations didn't open at the specified time of 6am. Loyal BDP members braved the...