Wednesday, February 21, 2024

Botswana’s fiscal odyssey: A dream deferred, a deficit unveiled

In the poetic spirit of Hughes, the question of what happens to a dream deferred finds resonance in Botswana’s ongoing struggle for a balanced budget amid economic challenges. As the nation prepares for the end of a two year transitional development plan and the beginning of the 12th National Development Plan next year, the dream of financial equilibrium seems deferred, prompting contemplation on whether it will wither like a raisin in the sun or explode with urgency. 

One thing for sure, Serame’s historic appointment in 2021 has not yet shielded Botswana from grappling with stubborn budget deficits. The country’s budgetary struggles trace back to the onset of the National Development Plan 11 (NDP 11), marked by challenges in the diamond industry. The industry, a vital economic pillar, only began recovering momentum in 2021, reaching its zenith in 2022. Over the years, the country has faced budgetary imbalances, with deficits of varying magnitudes.

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