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Botswana Economic Crisis Sparks Youth-led Fiscal Overhaul Ahead of 4th Financing For Development Conference.
As Batswana grapple with a BWP 22 billion budget deficit (9% of GDP in 2024), rising public debt of 27.4% of GDP, squeezing funds for youth-centric programs and youth unemployment at 43.86%, underscoring the urgency of prioritizing job creation and social services for the nation’s youth-dominated population (70% under 35), the FfD4 presents an opportunity for Batswana to redefine global rules on sovereign debt, a critical issue for Botswana as diamond revenue volatility strains public finances.
Moving from Echoes to Action
A key discussion point was the looming public debt crisis, driven more by domestic borrowing than external sources. This inward borrowing approach has the unintended effect of shrinking fiscal space and crowding out essential public services.
Implementing the Auditor General’s Recommendations for Fiscal Discipline and Domestic Resource Mobilisation in Uganda
Fiscal discipline reduces unsustainable debt levels, freeing resources for investments in sectors like agriculture, tech, and green industries, which are critical for youth employment.
Financing our Futures: What does Domestic Resource Mobilization (DRM) mean for Youth?
Youth should care. The main reason is because we’re paying, but not heard. Africa is the youngest continent in the world, with over 60% of its population under the age of 25. Yet despite being the majority, young people are among the most heavily taxed, especially through consumption taxes such as VAT on airtime, mobile money, transport, and everyday goods.