Diamonds are not forever, Khan reminds govt
Friday, April 07, 2017
Speaking at a focus group hosted by Standard Chartered Bank Botswana and the Botswana Investment and Trade Centre (BITC) on Wednesday, Khan said Botswana’s revenue sources are vulnerable, noting that the recent slump in diamond sales has proven that ‘diamonds are not forever’.
“Even the revenues from the Southern Africa Custom Union (SACU) will not help the country looking at the volatility of the economy,” she said.
While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...