December 12, 2017 / 9:55 AM / a year ago

Botswana's 2017/18 budget in surplus at half-year mark

GABORONE, Dec 12 (Reuters) - Botswana’s national budget recorded a cumulative surplus of 100 million pula ($10 million) half way through the 2017/18 fiscal year, but was still expected to record a full year deficit.

The southern African nation’s central bank said it received more mineral revenues than expected in the six months to September, resulting in a surplus. Botswana recorded a deficit of 1.7 billion pula by the same time last year.

The country’s fiscal year runs from April to March.

A budget deficit of 6.5 billion pula was forecast by Finance Minister Kenneth Matambo in February.

The deficit is seen widening to 8 billion pula in the 2018/2019 fiscal year leading to cumulative budget gap of 15 billion pula by 2020, the ministry of finance has said. ($1 = 10.3734 pulas) (Writing by Tanisha Heiberg; Editing by James Macharia)

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