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Restoring Fiscal Balances Post the Global Economic Crisis in Botswana

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  • Emmanuel Botlhale

Abstract

This article discusses the restoration of fiscal balances in Botswana after prolonged deficit financing. Botswana is a diamond-export-dependent country; resultantly, it suffered revenue losses due to depressed demand for diamonds during the global economic crisis. Reduced revenues necessitated deficit financing between 2008/09 and 2011/12. Debt was financed through dissaving and borrowing. However, the government restored budget balances in April 2012. While this case study is Botswana-specific, there are general lessons. These are: using a crisis to introduce public finance reforms; eschewing populism aimed at short-term gains; and the need for politicians to take very bold decisions to guide fiscal policy.

Suggested Citation

  • Emmanuel Botlhale, 2017. "Restoring Fiscal Balances Post the Global Economic Crisis in Botswana," International Journal of Public Administration, Taylor & Francis Journals, vol. 40(8), pages 706-716, July.
    • Handle: RePEc:taf:lpadxx:v:40:y:2017:i:8:p:706-716
    DOI: 10.1080/01900692.2016.1186177
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