Business Botswana has come out to praise this year’s budget speech delivered on Monday by Finance Minister, Kenneth Matambo.

In a statement released this week, the business advocacy body said it was impressed by the speech, praising government for allocating money to finance infrastructure and social protection.

“However, we note that the efficiency of infrastructure spending needs to be improved and social protection spending needs to be better targeted on the needy,” reads the statement from Business Botswana.

The body has also welcomed news of public servants salary increase, but with respect to the private sector salaries, Business Botswana notes that it should be appreciated that affordability, profitability and productivity are the determinants.

Having announced plans to introduce the Bill on declaration of assets and liabilities during his inaugural speech as the President last year, Business Botswana says this is a great effort by President Mokgweetsi Masisi which will promote transparency, good ethics and integrity in the public service.

The business advocacy body has however cautioned government to tread with care regarding the review of the legal legislation.

“Some of the recent tax changes which were not subject to a consultative process, will have a potentially adverse impact on the private sector, and will discourage increased investment.”

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