The World Bank’s Country Director Miss Marie-Francoise Nelly said, the partnership is a commitment to support Lesotho’s development goals. 

Nelly said there is a sense of urgency and eagerness to embark upon change and since Lesotho has been in economic stagnation which was exacerbated by the COVID 19 pandemic, addressing these development challenges requires a focus on rebalancing growth, shifting to private investment and exports for job creation, strengthening human capital and improving service delivery especially in rural areas amongst others.

The Minister of Finance and Development Planning Dr. Retsélisitsoe Matlanyane indicated that Lesotho has been facing difficult challenges of consistent deteriorating economic conditions for about a decade. 

The Minister said this year’s budget, set the stage for boosting the private sector to generate meaningful growth, whilst re-building fiscal and financial buffers so as to strengthen resilience and restore fiscal stability and stimulate growth.