Thursday, 27 Apr 2017
Music lovers, fans and friends of the late hip hop artist Vincent Tiro, better known as Steez, are due to descend upon civic centre in Gaborone, to remember the late rapper.
Thursday, 27 Apr 2017
The Gantsi community is calling for the Gantsi Agricultural show financial report to be audited, following allegations of mismanagement of funds.
Thursday, 27 Apr 2017
Defense Justice and Security Minister, Shaw Kgathi says he intends to table a bill to amend the penal code in the July parliamentary session.

Finance minister to unveil the 2017/2018 national budget

Monday, 6 February, 2017 - 07:45

Finance minister Kenneth Matambo is set to unveil the 2017/2018 national budget before parliament this afternoon.

This comes against the backdrop of a budget deficit of 3.8% of the Gross Domestic Product in the current fiscal year.

In the 2016/2017 budget, the government had to draw from its savings and borrow from both the domestic and foreign sources.

Despite initially optimistic projections, the domestic economy last year ended up with a negative growth of 0.3%, having been driven down by a 19.7% decline in mineral revenues, linked to weaker global demand, aggravated by drought and the challenges experienced in the water and energy sectors.

The government anticipates an overall domestic growth rate of 4.1% in 2017 from 3.5 percent in 2016. The focus will also be on the BCL mine which is about to placed under final liquidation.

In his speech in December last year, President Ian Khama said while the liquidation of the BCL mine will continue to have economic and social implications, it is anticipated that it will have limited direct impact in terms of exports, government revenues and overall growth.

Add new comment

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Enter the characters shown in the image.