Online Version

Facebook Feed

  • Dr Sikhulile Moyo named to TIME’s annual TIME100 list of the 100 most influential people in the worldMay 23, 2022
    TIME  has  named  Dr  Sikhulile  Moyo  to  the  2022 TIME100, its annual list of the 100 most influential people in the world. Dr. Moyo is the Research Laboratory Director at the Botswana Harvard AIDS Institute Partnership (BHP), a health […]
  • VACANCIES: BR PropertiesMay 17, 2022
    INTERNSHIP OPPORTUNITY Finance and Administration Closing date: 18th May 2022.
  • BANANA CLUB HOSTS FIRST MAUN EDITIONMay 17, 2022
    The artist-led collective, Banana Emoji Productions in collaboration with the European Union Delegation in Botswana hosted the beloved BANANA CLUB dialogues in Maun on the 14th of May 2022.  The multi-disciplinary creative group is committed to working with artists […]
  • Orange Botswana CEO among Africa’s most inspirational women in leadershipMay 12, 2022
    – Declares House of Rose House of Rose Professional Pte. Ltd (HORP) has announced its 2022 List of Africa’s Most Inspirational Women in Leadership. The list included over 100 inspirational leaders and was curated by House of Rose Professional […]
  • Unions ‘consider’ a Workers PartyMay 12, 2022
    Masisi snubbed trade unions on Workers Day, chose Khawa BOFEPUSU warn Masisi that Khawa could cost him elections Opposition will be top beneficiary of a Workers Party -Analyst BAKANG TIRO editors@thepatriot.co.bw Aggrieved trade union federation, Botswana Federation of Public, […]
  • About Us
  • Advertise
  • Disclaimer
  • Contact Us
  • Login
  • Register
Tuesday, May 24, 2022
17 °c
Gaborone
21 ° Tue
22 ° Wed
24 ° Thu
26 ° Fri
The Patriot On Sunday
Advertisement
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
Cart / $0.00

No products in the cart.

  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
The Patriot On Sunday
No Result
View All Result
Home Business

Matambo’s last budget speech?

patriot by patriot
January 17, 2021
in Business
0
Matambo’s last budget speech?
491
SHARES
1.4k
VIEWS
ShareShareShare

Finance Minister Kenneth Matambo will on Monday deliver possibly his last Budget Speech since there is no guarantee that he will be retained in his position if the ruling party wins elections.

President Mokgweetsi Masisi chose to retain him in the past few months after taking over ostensibly to ensure continuity in the sensitive finance portfolio. If he wins elections set for October, Masisi is expected to unveil his own team. There is also the likelihood that the opposition could win state power.

Matambo took the finance portfolio incidentally. At the time he was not a Member of Parliament with President Ian Khama exercising presidential pejorative to offer him an acting position when the then Minister – the late Baledzi Gaolathe – went on extended sick leave.

But as he takes centre stage, he once more carries the nation’s hopes for economic revival and re-engineering that will deliver sustainable jobs for many unemployed youth and offer a lucrative salary increment for public servants who have consistently complained of their conditions of service.

Salary increase

This year being an election year it is feared that Government – the ruling party – will be enticed by political expediency to increase public servants salaries substantially so that they return the favour by re-electing them to power. The public servants’ desperate call comes from the fact that over the past 10 years they have not enjoyed any big salary increase – having been limited only annual 3 per cent increases.

Negotiations are currently underway with all public sector unions while a commission set up by President Masisi to look at salaries for politicians and judges has already delivered its report. It was the intention of Government to start paying such increased salaries from April this year when the new budget is rolled out.

Delayed negotiations mean that Matambo will not be able to disclose the rate of increase on Monday. The Ministry of Finance has already warned that the country’s budget deficit could widen to P6.8 billion this new financial if the government awards a hefty salary hike to civil servants.

Projections

In fact its road map for the budget has already been set in the Budget Strategy Paper.  Government intends to strive to live within its means by producing a budget that is affordable and sustainable, yet responsive to people’s needs. “It is critical that by the end of the Plan period – NDP 11 –, all planned programmes are achieved in order to take the country forward.  However, to achieve this will require adoption of measures to increase the country’s implementation capacity,” said the Ministry of Finance.   

The Ministry projected a proposed 2019/2020 total expenditure budget allocations amount to P66.40 billion, representing an increase of 5.9 percent from the current year’s revised budget of P62.69 billion. Of this amount, the ministry said the share of the proposed Recurrent Expenditure is P49.00 billion, to cater for personal emoluments & pensions, other charges and grants and subventions to state-owned enterprises and local authorities. “On the other hand, a Development Budget of P17.47 billion is proposed to finance on-going and new programmes and infrastructural projects being implemented throughout the country.  However, the implementation of the development budget is likely to continue to be undermined by implementation capacity, which characterises both the public and private sectors.”

Related

Tags: financeMATAMBOminister

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
  • Dr Sikhulile Moyo named to TIME’s annual TIME100 list of the 100 most influential people in the worldMay 23, 2022
    TIME  has  named  Dr  Sikhulile  Moyo  to  the  2022 TIME100, its annual list of the 100 most influential people in the world. Dr. Moyo is the Research Laboratory Director at the Botswana Harvard AIDS Institute Partnership (BHP), a health […]
  • VACANCIES: BR PropertiesMay 17, 2022
    INTERNSHIP OPPORTUNITY Finance and Administration Closing date: 18th May 2022.
  • BANANA CLUB HOSTS FIRST MAUN EDITIONMay 17, 2022
    The artist-led collective, Banana Emoji Productions in collaboration with the European Union Delegation in Botswana hosted the beloved BANANA CLUB dialogues in Maun on the 14th of May 2022.  The multi-disciplinary creative group is committed to working with artists […]
  • Orange Botswana CEO among Africa’s most inspirational women in leadershipMay 12, 2022
    – Declares House of Rose House of Rose Professional Pte. Ltd (HORP) has announced its 2022 List of Africa’s Most Inspirational Women in Leadership. The list included over 100 inspirational leaders and was curated by House of Rose Professional […]
  • Unions ‘consider’ a Workers PartyMay 12, 2022
    Masisi snubbed trade unions on Workers Day, chose Khawa BOFEPUSU warn Masisi that Khawa could cost him elections Opposition will be top beneficiary of a Workers Party -Analyst BAKANG TIRO editors@thepatriot.co.bw Aggrieved trade union federation, Botswana Federation of Public, […]
The Patriot On Sunday

© 2022 Copyright The Patriot On Sunday - Inspired by Search Mart.

Navigate Site

  • About Us
  • Advertise
  • Disclaimer
  • Contact Us

Follow Us

No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders

© 2022 Copyright The Patriot On Sunday - Inspired by Search Mart.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?