News FlashesFebruary 28, 2019

News Flash 28 February 2019 – BOTSWANA – 2019-2020 Budget Speech


The Minister of Finance and Economic Development, Hon. Kenneth Matambo, presented the 2019 Budget Speech to Parliament in February 2019.

The 2019/2020 budget proposals emphasize the need for Botswana to consolidate development gains for further economic development.

Key highlights:

  • Growth rates forecast are 4.5%, 4.2% and 4.8% in 2018, 2019 and 2020, respectively
  • The projected 2019/20 budget deficit is estimated at P7.34 billion representing minus 3.5% of GDP
  • The revised budget forecast for 2018/2019 is a deficit of P6.96 billion compared to the initial estimated deficit of P3.59 billion
  • The government has reviewed the Botswana International Financial Services Centre tax regime which led to the amendment of the Income Tax Act by Parliament in December last year
  • The Minister confirmed the publication of the Income Tax (Amendment) Act, 2018 – Act No.38 of 2018 amending the anti-avoidance provisions and introducing Transfer Pricing (TP) legislation. The effective date of the legislation is 1 July 2019
  • A Bill to amend the Transfer Duty Act will be presented to Parliament in March 2019
  • The Capital Transfer Tax Act will be amended to align it to the Transfer Duty Act

No changes to PAYE rates proposed.

Contact our legislation team at if you require any additional information.
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