Friday, June 21, 2024

Govt looks to reserves as expenditure piles against lower revenue

Botswana’s foreign reserves grew last year, but the share of the government in the sovereign fund has gone down, a sign that the government continues to draw down on the reserves to meet its huge expenditure as diamond revenue continue to decrease.

According to Bank of Botswana’ statement of financial position ending December 2023, total foreign assets were valued at P63.7 billion, up from P54.5 billion balance in December 2022.

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