Diamond drop demands �new normal'

The Bank of Botswana estimates last year’s exports of local diamonds at US$2.4 billion or 39 percent down on the 2014 figure. The figure for 2015 represents the lowest that diamond exports have fallen since the 2009 recession, when they dropped to US$1.8 billion.

The latest figures bring into stark reality, the comments made by Finance Minister, Kenneth Matambo, in his budget speech about the need for austerity and discipline in public finance management.

According to Matambo, the slowdown in diamond export income in 2015 was among major contributors to the 15 percent drop in government mineral revenues to P18.2 billion. The lower diamond production was also key in the economic growth forecast for 2015 being slashed from 2.6 percent to one percent.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

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