05 Feb 2024

The proposed 2024/2025 budget sets a strategic tone and foundation to provide a stable macroeconomic environment necessary to deliver on the vision 2036 goals, Minister of Finance, Ms Peggy Serame has said.

Presenting the 2024/2025 proposals in Parliament yesterday, Ms Serame reiterated that government would strengthen fiscal sustainability measures by maximising domestic revenue collections as well as curb expenditure growth and leakages, despite the expansionary budget with an overall balance in deficit.

Ms Serame recognised the contribution by the private sector as a key driver of economic growth and job creation.

“In addition, the role of the informal sector cannot be over-emphasised, thus it is fitting that a new employment creating a transformational fund has been proposed for the 2024/2025 financial year to support this critical sector,” Ms Serame said.

It was for that reason, she said, that the 2024/2025 financial year proposed a stimulus budget that would create opportunities for all to play a meaningful role and contribute towards transforming the economy to be more inclusive , innovative and knowledge-based.

Further, Minister Serame acknowledged the country’s developmental partners for the continued support to the country’s development agenda, adding that their assistance over the years had helped Botswana to deliver on her aspirations.

She commended the nation for their patience and understanding during the difficult process of restoring the economy to its sustainable path. Ms Serame also urged the public sector to improve their performance by being competent and remain committed to the implementation of the reforms that were proposed in the budget. Ends