BOTSWANA BUDGET SPEECH HIGHLIGHTS

The Minister of Finance and Economic Development, Hon. Kenneth Matambo, presented the 2017/18 Budget Speech to Parliament in February 2018.

  • The country’s economy is expected to grow by 4.7% and 5.3% respectively
  • The budget deficit for 2018/2019 is projected at an estimated of P3.59 billion representing 1.8% of GDP
  • The 2017/18 revised budget estimate is a deficit of P2.42 billion compared to the initial estimated deficit of P2.35billion
  • Inflation declined from 3.1% in January 2017 to 2.9% in November 2017 before increasing to 3.2% in December 2017
  • The tax Administration Act is expected to be finalized in the next financial year
  • Botswana Government is undertaking a review of the Botswana International Financial Services Centre tax regime to remove any perception that Botswana is a tax haven. The review will be undertaken as part of the Income Tax (Amendment) Bill scheduled for presentation to Parliament during 2018

Income Tax rates will remain unchanged.

Contact our legislation team at info@crs.co.za if you require any additional information.

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