Overview of 2023 Budget

Lesotho Macroeconomic Situation Lesotho's per capita GDP has declined from M16,888 in 2020 to M16,885 in 2021 in current prices ⚫ For the past five years spanning 2017/18 - 2021/22, experienced economic contractions of about 1.7% on average. • In 2022/23, growth is estimated at 1.8% and is projected to accelerate to 2.3 % in 2023/24. • At below 5%, our rate of economic growth is far below that, which is consistent with the desired NSDP target. • One of the most unequal countries in the world, with a Gini index of 44.9%. • The government of Lesotho is the largest economic player in Lesotho, and government expenditure as a percentage of GDP stood at 38.3% in 2019. A public system embattled with misappropriation, fiscal slippages bad habits of wasteful spending, NETE THEBE NETE THEBE

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