Details

  • Service: Tax
  • Type: Business and industry issue
  • Date: 2/1/2016

Botswana Tax and Budget Summary 2016/2017 

The Honorable Minister of Finance and Development Planning, Mr O K Matambo presented the Budget proposals for the 2016/17 year to the National Assembly on 1st of February 2016.
 

The Honorable Minister of Finance and Development Planning, Mr O K Matambo presented the 2016/17 Budget Proposals to the National Assembly on the 1st of February 2016.

 

The 2016 / 17 budget which coincides with the end of the 10th National Development Plan (NDP10) is also a transitional budget from  Vision 2016 to Vision 2036.

  

 

The budget allocations address the following key thematic areas:

 

§   Investing in infrastructure development;

§   Creating employment opportunities;

§   Strengthening human capital;

§   Enhancing national security; and

§   Strengthening local governance.

 

Budget speech highlights

 

§   The domestic growth rate for 2015 has been revised downwards from 2.6% to 1%.

 

§   Growth rates for 2016 and 2017 are forecast at 4.2% and 4.3%, respectively.

 

§   Actual budget surplus for 2014/15 was P5.34 billion compared to the estimated revised budget surplus of P280.83 million.

 

§   The 2015/16 revised budget deficit of P4.2 billion compared to the initial estimated surplus of P1.23 billion.

 

§   Projected  2016/17 budget deficit is estimated at P6.05 billion representing 3.8% of GDP.

 

§   Foreign exchange reserves as at 31 December 2015 were P84.9 billion (representing 19 months import cover) compared to P79 billion in December 2014.

 

§   Year-on-year inflation  rate  was 3.1% in December 2015 compared  to 3.8 % in December 2014.

 

 

Contact

Nigel Dixon-Warren
Tax Partner
Tel:+ 267 391 2400
nigel.dixon-warren@kpmg.bw

 

Olivia Muzvidziwa
Associate Director
Tel:+ 267 391 2400
olivia.muzvidziwa@kpmg.bw

 

Leonard Muza
Senior Manager
Tel:+ 267 391 2400
leonard.muza@kpmg.bw

 

Jonathan Hore
Senior Tax Advisor
Tel:+ 267 391 2400
jonathan.hore@kpmg.bw

 

Abel Dube

Senior Tax Advisor

Tel:+ 267 391 2400
abel.dube@kpmg.bw

 

Masa Selerio
Tax Advisor
Tel:+ 267 391 2400
masa.selerio@kpmg.bw