Botswana sees budget surplus in 2020 – finance minister
Thursday, February 14, 2019
Botswana sees budget surplus in 2020 – finance minister

Botswana: News Day 

Botswana plans to swing back to a budget surplus in 2020 after three straight years of deficits, Finance Minister Kenneth Matambo said on Thursday.

The diamond-producing southern African country expects a budget deficit this year estimated at 3.5 percent of gross domestic product (GDP), the same as 2018’s estimated shortfall, Matambo had said in his budget speech on Monday.

On Thursday, Matambo told a media briefing that the 3.5 percent deficit for 2019 which amounts to 7 billion pula ($667.80 million) will be financed from borrowing from the local or outside markets as well as drawing down of cash reserves.

“We have had three years of budget deficits and this was a deliberate move to try and boost the economy,” he said.