Botswana revenue for 2016 was $1,464 million lower than the year before, according to the country’s Revenue Department.
The decline in revenues follows the country implementing a massive economic stimulus package last year.
While Botswana has experienced economic turbulence in recent years, it has experienced a surge in popularity with the public.
In a release, Botswana Department of Finance (DOF) Chief Revenue Officer David Ralston said the country had achieved its highest level of revenue growth since 2008, with a revenue per capita of $2,000.
“This is the highest level since 2009,” he said.
He said Botswana had achieved the highest tax rate in the world last year, with income tax at a whopping 57.5 per cent, while payroll tax was only 7.5.
There were also record revenues from motor vehicle excise duties, he said, adding that the country has been able to maintain its AAA credit rating.
Mr Ralton said Botswanese government revenues had grown by 7.9 per cent last year and the country was on track to record a $1 billion revenue increase this year.
The DOF also said Botsia was now the second-most-populous country in the Western Hemisphere after Brazil, with 8.9 million people living in the country.
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