Africa-Press – Lesotho. The Minister of Finance and Development Planning Dr. Rets’elisitsoe Matlanyane says the agricultural sector anticipates a modest recovery in the 2025/2026 financial year.
This, she said when presenting the 2025/2026 mid-term budget review in the joint sitting of Parliament on Wednesday.
Dr. Matlanyane said the recovery is based on a preliminary forecast which predicted normal to abnormal rains, following significant downturn experienced in 2024/2025 season.
When commenting about other sectors, she said Phase II of Lesotho Highlands Water Project remains an engine for economic growth, especially in the construction sector.
She also highlighted that the energy grid is anchored on mission 300 initiative, the economic transformation program which aims to unlock 300 megawatts by 2030 amongst others.
She added that the initiative aims not only to become energy secure and independent but also to be a future network of clean energy.
“Mission 300 is our energy compact with the Basotho nation,” she stressed.
However, when commenting about the diamond industry, she said severe global price in diamonds has caused major hardships for Lesotho’s mining industry.
She said this resulted in a restructuring initiated process, indicating that one of the local mines was forced to retrench 240 workers.
Meanwhile, the Minister highlighted that other sectors such as infrastructure have steady progress countrywide through different projects.
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