Overview
Botswana's Vice President and Minister of Finance, Hon. Ndaba Nkosinathi Gaolathe, presented the 2025/26 National Budget at a time of significant economic challenges. The country faces a substantial fiscal deficit, overdependence on a struggling diamond sector, and declining foreign exchange reserves (most notably in the Government Investment Account). The new administration, led by President Advocate Duma Boko, inherited an unsustainable fiscal position and a pressing need for structural reforms to restore economic stability and growth.
In his recent State of the Nation Address, President Advocate Boko built on the aspirational economic promises made in the Umbrella for Democratic Change's 2024 election manifesto. These promises included job creation, economic diversification, and extensive infrastructure development. The strategic imperatives outlined by President Boko emphasised the need for fiscal sustainability, social welfare enhancements, governance and transparency improvements, and environmental sustainability.
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