Connect with us

Hi, what are you looking for?



Matsheka delivers his first Budget speech

All eyes will be on Minister of Finance and Economic Development, Dr. Thapelo Matsheka when he delivers his maiden budget speech for 2020/2021 financial year this afternoon.

Already, as per the 2020/2021 Budget Strategy Paper (BSP) presented to stakeholders last October, a P6.9 billion deficit or -3.1 percent of the GDP is forecasts for the coming financial year.

Revenues are forecast at P59.1 billion against an expenditure of P66 billion.

Speaking at a media workshop recently, Chief Economist at First National Bank Botswana (FNBB), Moatlhodi Sebabole said the significance of today’s budget speech is that it comes at the mid-point of the National Development Plan 11 (NDP 11).

“So, this budget is significant in that it is combined with the review of the Plan because we are in the middle of it. NDP 11 originally had six priorities and it had to be more focused, which is why government has moved from six to four,” said Sebabole.

Advertisement. Scroll to continue reading.

Sebabole expects Matsheka to focus on these three priorities being; promoting export led growth; efficiency in government spending and financing; building human capital; and providing infrastructure.

The economy is currently grappling with dwindling revenue growth rates according to Sebabole while expenditure growth rates up ballooning.

He said this is due to closure of key mines that contributes significantly to the economy as well as poor performance of diamonds on the market.

“Expenditure, maintenance and mega projects that we are still working on, salaries and all other expenditures are going up,” said the FNBB Chief Economist.

Advertisement. Scroll to continue reading.
Click to comment

Leave a Reply

Your email address will not be published.

You May Also Like


Botswana Meat Commission (BMC) has recorded increased revenues of P20.1 million for the period of January 2022 to date compared to a budget of...


On Monday, The Finance Minister, Peggy Serame delivered her first ever Budget Speech, sealing her place in the history books as the first ever...

Latest News

On Monday, the Minister of Finance and Economic Development, Thapelo Matsheka delivered the Budget Speech for the 2021/22 financial year. It was a speech...


No hope in the briefcase! With Covid-19 keeping the entertainment industry in lockdown, on Monday the long-suffering sector’s stakeholders tuned in with hopeful hearts...


VAT hiked, more taxes and levies introduced Monday’s Budget Speech, and the announcement that Value Added Tax (VAT) will soon be increased alongside the...

Latest News

“I know how the man rigged elections” – Situmbeko A text message attack on the Minister of Finance and Economic Development, Thapelo Matsheka has...


Located at River View Mall, the latest addition to the Botswana Savings Bank empire extends the government-owned bank’s total outreach to seven branches, including...


Diamond sales improve, but De Beers remains cautious Following a disastrous start to the year, diamond sales have started to pick up ahead of...