BOTSWANA BUDGET SPEECH HIGHLIGHTS
The Minister of Finance and Development Planning, Hon. Kenneth Matambo presented the 2017/18 Budget Speech to Parliament on 7 February 2017.
- The country’s economy is expected to grow by 4.2% in 2017, in comparison to the 2.9% recorded in 2016.
- As part of the Eleventh National Development Plan (NDP 11) which was approved in December 2016, the focus will be on the following areas:
- Development of diversified sources of economic growth and revenue
- Human capital development
- Social development
- Sustainable use of natural resources
- Consolidation of good governance and strengthening of national security
- Monitoring and evaluation of government programs
- Government is in the process of developing a Tax Administration Act to simplify the Income Tax Act and Value Added Tax Act.
- Income Tax rates will remain unchanged.
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