Botswana: public finances

What is Botswana's budget deficit for 2026/27?

The budget deficit for fiscal year 2026/27 is forecast at P26.35 billion, according to the Ministry of Finance's Government Borrowing Strategy, published with the Budget Speech of 9 February 2026.

The ministry plans to finance it with P10 billion of bond sales, up to P2 billion of net Treasury bill sales and loans from multilateral development agencies. The bonds are split between short-dated bonds (P4 billion) and longer-dated and inflation-linked bonds (P6 billion), each sold in eleven auctions. The stock of Treasury bills could reach P14 billion by the end of the year. Botswana's fiscal year runs from April to March.

Official sources: Ministry of Finance: Government Borrowing Strategy 2026/27 (PDF)

How much debt does Botswana have?

Botswana's public debt, including government guarantees, was P94,998.5 million, or 32.1% of GDP, in the first quarter of fiscal year 2026/27, according to the Ministry of Finance's quarterly debt statistics. Gross government debt excluding guarantees was P86,325.9 million.

Domestic debt was P58,745.3 million, mostly bonds (65%) and Treasury bills (26%). External debt was P27,580.6 million, 94% of it owed to multilateral lenders. The ministry reports external debt at 10.9% of GDP and domestic debt at 21.2%. Debt service in the quarter was P8,853.3 million on domestic debt, and P561.9 million on external debt.

Official sources: Ministry of Finance: Public debt statistics, 2026/27 Q1 (PDF)

What is Botswana's government debt?

34.0% of GDP: that is general government gross debt in Botswana for 2025, according to the IMF. No year since 2005 has been higher. It is 43rd highest of 46 in Sub-Saharan Africa, where the median is 53.0% of GDP. Of 185 countries with 2025 data, 146th highest.

What is Botswana's fiscal deficit?

The IMF puts general government net lending or borrowing in Botswana at -6.1% of GDP in 2025, which is a deficit. Since 2005 it has ranged from -13.8% of GDP (2009) to 13.3% of GDP (2006). Sub-Saharan Africa median: -3.0% of GDP; Botswana is 39th highest of 47. World rank, highest first: 160th of 188.

How much revenue does Botswana's government raise?

The latest figure from the IMF, for 2025, is 25.5% of GDP. It is the bottom of the series, which starts in 2005. It is 10th highest of 47 in Sub-Saharan Africa, where the median is 18.4% of GDP. Of 187 countries with 2025 data, 103rd highest.

What is Botswana's government spending?

The latest figure from the IMF, for 2025, is 31.6% of GDP. The peak was 52.1% of GDP in 2009 and the low 29.1% of GDP in 2022. Sub-Saharan Africa median: 20.8% of GDP; Botswana is 6th highest of 46. Worldwide: 85th of 186.

What is Botswana's tax to GDP ratio?

The IMF puts central government tax revenue in Botswana at 22.4% of GDP in 2023. Its high point since 2006 was 2012, at 28.0% of GDP; its low point was 2022, at 19.6% of GDP. It is 4th highest of 22 in Sub-Saharan Africa, where the median is 14.0% of GDP. Worldwide: 25th of 110.

What is Botswana's military budget as a share of GDP?

SIPRI puts military spending in Botswana at 3.1% of GDP in 2025. Its high point since 2005 was 2016, at 3.4% of GDP; its low point was 2023, at 1.8% of GDP. Sub-Saharan Africa median: 1.3% of GDP; Botswana is 6th highest of 44. Of 149 countries with 2025 data, 24th highest.