Botswana's Vice President and Minister of Finance Ndaba Gaolathe delivers the 2026/2027 budget speech at the National Assembly in Gaborone, Botswana, Feb. 9, 2026. (Photo by Tshekiso Tebalo/Xinhua)
GABORONE, Feb. 10 (Xinhua) -- The government of Botswana will implement institutional reforms and tighten fiscal discipline measures due to growing public debt in the upcoming financial year starting April.
Delivering the 2026/2027 budget speech at the National Assembly in Gaborone on Monday, Vice President and Minister of Finance Ndaba Gaolathe listed the national priorities as export growth and a diversified economy, which align with the southern African country's 12th National Development Plan and the Botswana Economic Transformation Program, aiming to reduce the economy's overdependence on diamonds.
Agriculture is being repositioned from subsistence and import dependence to a modern, export-oriented agro-industrial sector built on value chains, agro-processing, and regional and global market access, Gaolathe said.
He also stressed the participation of the private sector as the center of the driving engine for enhancing competitiveness and accelerating sustainable growth.
On healthcare, the minister called for the establishment of universal healthcare coverage in Botswana through reforming the health sector, which is expected to reduce government expenditure on medical supplies by 30 percent to 40 percent within five years.
Persistent deficits and falling revenues have drained the government investment account to "historically low and unsustainable levels," Gaolathe noted.
He stressed fiscal consolidation, discipline, and the rebuilding of financial buffers in the upcoming financial year as the government moves to strengthen debt sustainability and restore economic resilience.
Government expenditure was estimated at 103.58 billion pula (about 7.88 billion U.S. dollars), against revenues of 77.22 billion pula. ■
People watch the live TV broadcast of Botswana's Vice President and Minister of Finance Ndaba Gaolathe (on the screen) delivering the 2026/2027 budget speech at the National Assembly in Gaborone, Botswana, Feb. 9, 2026. (Photo by Tshekiso Tebalo/Xinhua)
