In a few months to come I don't see any sector becoming immune from this crisis. The sticky tag of 2009/2010 budget whose theme is, "Turning challenges into opportunities - building on the achievement of NDP 9" gives me hope if at all it is authentic and not a myth. As you go through this year budget speech you can pick some fantastic initiatives such as creating opportunities for promotion of home ownership and implementation of policies to address issues of affordability, delivery and coverage of people of different social income groups. Reviewing of the Trade Act, 2003 as a way of improving the processes and procedures for obtaining business licenses, introduction of medical laboratory science programme at the University of Botswana are some of the great ideas.
The global financial turmoil has already tortured the mining sector. Words on boulevards are that diamond sales revenues are expected to decline by about 50 percent as prices are estimated to dwindle by 15 percent and production to go down by 35 percent. This is a terrifying era, particularly for our country which is mineral based economy. A lesson will be learnt that one based economy is perfidious. The budget proposal has been put down and the situation of economic slow down is known but nothing has been emphasised on the economic stimulus package. If at all the government has no intentions to boost some sectors of the economy in the form of stimulus package, then we are digging ourselves a deeper hole to fall in. A crisis gets worse if not given attention.
