Coronavirus: COVID-19 cast gloomy forecast for Botswana’s economy

24 Avril 2020

Gaborone, Botswana, April 24 (Infosplusgabon) - Botswana Finance Minister Dr Thapelo Matsheka has painted a gloomy outlook for the country’s economy to the global COVID-19 pandemic.

The minister of Finance and Economic Development, addressing the nation on Friday, said the economy previously expected to grow by four percent would contract by 13 percent.

He said the development had forced government to revise its budget by doing away with conferences, meetings and regrettably differed salary increase of public officers.

Dr. Matsheka said the decisions were made to allow for government to help all citizens, largely those who were economically impacted by the COVID -19 pandemic.

He further said government would concentrate efforts on trying to limit the spread of the virus, while preparing a strategy to revive the post-COVID -19 economy.

The world economy whose growth projection was three percent will now contract by three percent instead.

Meanwhile, the country’s taxman - Botswana Unified Revenue Services (BURS) - is processing wage subsidy to cushion companies that have been adversely affected by the pandemic.

“Of the 12,440 applications by companies received in the month of April for wage subsidies, only 12,413 were approved, and that’s a total number of 165,681 employees. BURS are continuing with the processing of the applications and will advice companies,” said Matsheka.

FIN/INFOSPLUSGABON/ASD/GABON2020

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