Budget estimates should be fully guided by the National Strategic Plan (NSDP) whose emphasis is on transitioning from the government led economy to the private sector economy to ensure job creation.

This was said by the Leader of Opposition, Mr. Mathibeli Mokhothu in the National Assembly on Thursday, as the House continues to debate on 2025/26 financial policy.

Mr. Mokhothu indicated that the Minister of Finance and Development Planning did not stipulate in the budget presentation how many jobs will be created this financial year as the economic outlook stands at 3.3 percent.

He said the country is hit by a severe youth unemployment rate and acknowledged that the Minister stipulated this matter in the budget policy.

However, he said the Minister said the inclusive growth fund, which amounts to about M400 Million, might intervene in job creation but did not specify how this fund would operate since the country is faced with a challenge of a weak private sector.

“Budget estimates are not only about presentation of numbers and allocation of money, but we have to account to the nation” he stressed.

He added that the 2025/26 financial policy was outlined when the United States (US) announced its suspension on foreign development assistance, but the Minister did not mention how the government would fill this gap in her budget presentation.

He further indicated that the wage bill, which remains high, contributes towards a negative impact on inflationary measures, thus need to be managed and curbed.

He added that food and energy price stability need to be strengthened through commercial agriculture, but the government must come up with a clear policy to overcome this challenge, making an analysis on other sectoral issues.

Meanwhile the Opposition Leader also made an analysis on the 2024/25 budget estimates, regarding revenue developments, capital expenditure, economic growth, job creation as well as Ministerial performances on allocated budget amongst others.

The Minister of Finance and Development Planning Dr. Rets’elisitsoe Matlanyane is due to comment on these issues as debates are continuing.