28 February 2018

Lesotho: 2018/19 Budget to Move Country Forward-Finance Minister

The Minister of Finance, Dr Moeketsi Majoro says the 2018/19 budget will move the country forward if all is implemented as planned. This, he said during the budget speech discussion held at Avani Maseru on Wednesday.

He said the budget focus more on business investment and government Ministries are expected to cooperate and address the needs of Basotho by providing them with support and mentor-ship among others.

He said the government will try as much as it can to support local purchase of products produced by Basotho as well as providing trainings for small entrepreneurs.

He added that the government has launched the Lesotho Youth Employment grant which is a program that offers a comprehensive solution in helping young entrepreneurs in the country to access financial assistance.

He said the grant will support the high potential, innovative and impactful start-up ideas and empower the existing youth and women-run enterprises to expand and access new markets or develop new products and services beyond their current limited capacities.

Speaking at the same event, a members of Finance and Budget Committee and also the Minister of Communications, Science and Technology, Chief Thesele Maseribane said during the budget process, they learnt that there was need to address some of the challenges facing the government which included among others, opening of new bank accounts for projects as well as delay in payments made by the Treasury.

He also emphasised need for the government to make politicians and members of the public understand how the severe pressure of the wage bill could be improved.

In conclusion, Finance and Budget Committee Chairperson and also the Deputy Prime Minister, Mr. Monyane Moleleki commended the Committee, Senior government officers and all officers for their contribution in the planning of 2018/19 budget.

He also urged all government Ministries to unite for the development of the country.

Among other questions that were raised by the participants included financial support for small businesses, minimisation of costs for Ministers international trips, trainings for small entrepreneurs and tax payments for small entrepreneurs.

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