23 Jan 2025

The Budget Strategy Paper has identified national priorities for the 2025/2026 budget, which included building an inclusive economy, improving the quality of life, modernising and transforming infrastructure, innovation and digital transformation.

Officiating at the Budget Pitso for general stakeholders today, Acting President, Mr Ndaba Gaolathe said these priorities were anticipated to revitalise the economy, drive growth and create sustainable well-paying jobs.

“The aim is to build a future with better access to services, stronger communities and opportunities for prosperity for all citizens. The country seeks to ensure shared economic growth and an improved quality of life for future generations through inclusive development,” he said.

Also, he said the proposed budget would advance infrastructure modernisation to stimulate growth as well as foster innovation and private sector development to create jobs and diversified economy.

“We need to enhance the quality of life of our people through comprehensive and targeted social programmes. Achieving these goals requires the collaboration of all stakeholders. In this regard, we need to put our heads together and dialogue meaningfully and exchange innovative ideas for the establishment of a shared vision for a new Botswana,” he said.

To advance the development agenda, Mr Gaolathe said prudent resource management and enhanced macroeconomic stability would be vital. 

However, he cautioned that the budget was characterised by an unfavourable financial and economic environment as the country navigated an uncertain economic landscape characterised by slowing economic growth and persistent global challenges.

“Everyone knows that the fiscals of our country are strained, and our system of financial management has immense lapses but we are however determined to build a well-managed country, no matter how paralysed we feel or how constrained our circumstances may be,” he said.

Despite the challenges, Mr Gaolathe said government was faced with the dual task of driving economic recovery while laying the foundation for long-term resilience and sustainability. 

He said in this context of the socio-economic challenges, government would focus on policies, programmes and projects designed to improve and reinforce resilience.

To that effect, Mr Gaolathe indicated that promoting export-led growth required improved competitiveness and productivity, with a focus on reducing the costs of domestic production and removing other barriers to trade.

He said it was thus necessary to be cautions and inclusive in reviewing government decisions and all major policy frameworks, systems and procedures in the economic, labour and social areas.

Additionally, he said government was determined to build a well-managed nation that was the paragon of unity, fairness and prosperity on the African continent. ENDS