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.
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