Public Revenue Diversification in Botswana During Crisis Times

Abstract

To maximise social and economic welfare, governments need sufficient and diversified revenues. Due to global interconnectedness, public revenues are susceptible to macro shocks such as global financial crises and global health pandemics (e.g. COVID-19). Susceptibility to crises and pandemics necessitates revenue diversification, mainly, in mono-cultural economies such as Botswana. So, this paper aims to discuss revenue diversification initiatives in Botswana during crisis times. The paper, based on interpretivism, used the qualitative case study approach. Since it is a desktop study, it used secondary data sources. The paper concluded that the quest for public revenue diversification is yet to bear fruit, hence, an evaluation is impossible for now. The foregoing conclusion notwithstanding, the general lesson from the Botswana case is that public revenue diversification is imperative, particularly given post-2007 and COVID-19 fiscal strictures. Finally, revenue diversification does not happen in a vacuum. Therefore, it must be girded in public financial management reforms.