Government plugs budget deficit with domestic funds

Friday, October 21, 2016

Finance Minister Kenneth Matambo will not need to look outside for budget funding

Government has raised P5 billion from the domestic bond market as well as from drawing down of cash reserves at the central bank, ruling out the possibility of seeking foreign funding to plug this year’s P6 billion budget deficit.

Available statistics show that government has been regularly drawing down on its deposits at the Bank of Botswana (BoB) with P3 billion having been withdrawn in the first three months of the 2016/17 financial years.

On the other hand, at least P2 billion has been borrowed from the local capital markets since June this year through issuance of government bonds and Treasury Bills.

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