Gov�t borrows P3bn from bond market

Matambo says budget deficits will be financed through domestic borrowings and drawing down on savings
Matambo says budget deficits will be financed through domestic borrowings and drawing down on savings

Government has raised about P3 billion from the bond market this year, funds that are expected to be used to help plug the budget deficit.

A budget deficit of P6.5 billion is forecast for the current financial year up from P2.35 billion announced by Finance Minister, Kenneth Matambo in February.

With government having ruled out tax increases to finance the deficit, the shortfalls will likely be covered by a combination of borrowing on the domestic market as well as drawing down on the Pula Fund at the central bank.

Editor's Comment
Closure as pain lingers

March 28 will go down as a day that Batswana will never forget because of the accident that occurred near Mmamatlakala in Limpopo, South Africa. The tragedy affected not only the grieving families but the nation at large. Batswana throughout the process stood behind the grieving families and the governments of Botswana and South Africa need much more than a pat on the back.Last Saturday was a day when family members said their last goodbyes to...

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