Delivering his 2019 budget speech to Parliament, Matambo said “the implication of the projected growth in the domestic economy is that less revenues will be realised, calling for continued expenditure control in order to ensure that the country remains on a path of fiscal sustainability in the medium term.”
According to the minister, the 2019 budget deficit is estimated at 3.5 percent of gross domestic product (GDP), the same as last year’s estimated shortfall.
He said total expenditure and net lending for the 2019/20 financial year was estimated at 67.54 billion pula ($6.50 billion), whilst total revenue and grants were estimated at 60.20 billion pula.
Calling for more efforts aimed at diversifying the economy away from diamonds, Matambo said mineral revenue was still the highest contributor to revenue, representing 35.62 percent.