Africa-Press – Botswana. The formulation of the 2025/2026 budget is being developed in a difficult financial and socio-economic environment that requires stricter prioritisation of budget allocations and implementation.
This was said by the Vice President, who also serves as Minister of Finance, Mr Ndaba Gaolathe in his opening address of the Members of Parliament Budget Pitso in Gaborone yesterday.
“On a global scale, we continue to navigate slowing growth and persistent challenges, while domestically, we are challenged to balance economic recovery with long term resilience and sustainability,” he said
The country’s current economic and financial landscape, Mr Gaolathe called for unity and collective action transcending political affiliations, hence cautioned that it now was not a time for divisions, but for decisive and strategic leadership where national priorities should focus on high-impact investments that would drive economic growth and improve livelihoods.
Mr Gaolathe said the urgency of the situation demanded bold policy decisions that would have a tangible effect on the lives of Batswana.
“By working together in unison, we can achieve and redefine Botswana’s sustainable development and growth path in the short to medium term, facilitating the recovery we all desire. By the end of the 2025/2026 financial year, if we do not achieve real progress, the responsibility will be ours as parliamentarians. Therefore, we cannot afford to let our people down,” he said.
“Let us always remember that poverty and unemployment do not recognise political colours, they affect all citizens equally. It is our duty to act with integrity, foresight, and unwavering commitment to the well-being of those we serve,” he added.
Mr Gaolathe further expressed delight for hosting of the MPs’ Budget Analysis Seminar, themed: Promoting Effective Budgeting for a Sustainable Economy saying, it aligned perfectly with the budget consultation meeting which provided meaningful discussions on the budget process and explored ways to ensure fiscal responsibility, sustainability and economic resilience.
He also encouraged the legislatures to develop comprehensive and effective strategies and recommendations that aligned with government’s vision for reinforcing fiscal discipline and prudence.
To ensure a revitalised and modernised approach to fiscal management, he advised that there was need to put in place key interventions such as strengthening and incentivising revenue collection, eliminating financial inefficiencies and leakages within State-Owned Enterprises and facilitating or conducting comprehensive, multi-tiered forensic audits of ministries, departments and agencies.
Furthermore, Mr Gaolathe stressed that enhancing the appraisal, design, costing and execution of public sector investment projects was also crucial.
“We remain committed to establishing a fiscally sustainable framework that not only safeguards the future of generations to come, but also guides our public finances back onto a path of stability and growth,” he said.
“Let us remain mindful that our primary responsibility is to deliver on our ministerial mandates, expedite our nation’s development agenda and enhance the quality of life for our citizens. At the heart of achieving this vision lies our capacity to manage budgets prudently, ensure the effective delivery of quality services, and implement projects within scope, on time and within budget,” he added.
Government, Mr Gaolathe said, was aware of the urgent need to address the structural deficiency of overreliance on a single revenue source, which posed a significant risk to economic stability and constrained the ability to deliver essential services.
In that regard, he said government remained steadfast in prioritising the diversification of revenue streams to strengthen the country’s financial standing.
Another pressing issue, he said was the excessive pricing in government procurement. To ensure value for money, he cautioned that “this practice must come to an end, as we can no longer afford to pay double or even triple the market price for goods and services.”
He said there was also need to intensify the fight against corruption in all its forms, as it eroded public trust, drained resources and undermined government’s ability to deliver essential services effectively.
“Let us legislate, not for today, but for generations yet unborn. The policies we make must be the foundation upon which a better tomorrow is built. And as we move forward, let us remember that our duty is to ensure that the decisions we make, today, shape the economic path we forge for future generations,” he added.
The pitso was meant to afford the MPs an opportunity to engage in discussions and provide insights that would help shape the context and policy direction of the 2025/2026 national budget.
With the budget speech just days away, Mr Gaolathe assured the MPs that their contributions and perspectives would be thoughtfully considered and where feasible, incorporated into the final budget, because their voices matter.
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