‘Covid-19 drew revenue collection back by M2.2 billion’

MAMELLO SEBATANE

Maseru – While presenting the budget for the next fiscal year, Finance Minister Thabo Sophonea today said the 2020/2021 budget performance missed the initial expectation as priorities had to change due to the impact of the Covid-19 pandemic.

Sophonea said projected revenue collection for the 2020/2021 financial year dropped by M2.2 billion.

He said M1.2 billion was allocated towards financing of the Covid-19 management and control measures, adding that 25 percent of the totaled allocations for construction, maintenance and upgrading of roads was re-assigned towards Covid-19 relief programmes.

He said in his speech that a recovery plan that is currently in the pipeline will, among others, deal effectively and decisively with Covid-19 to limit the rate of infections and deaths and to protect and preserve the country’s human capital base.