Absa predicts bleak 2024 for Botswana’s economy

Ridle Markus
Ridle Markus

Botswana’s economic forecast for this year has been revised downwards further dampened by uncertainties in the broader global economy. Economists at Absa have expressed their fret over what they predict to be a tough year for Botswana marred by an array of downturns.

Absa Southern African economist, Ridle Marcus, last week revealed that inside forecast point to a tough year for Botswana’s economy with the main pressures coming from inflation facing commodities and a steep diamond price crunch.

“The World Bank this year revised forecasts for economic growth from three percent to 2.4 percent for this year and this forecast cut signalled lack of confidence in Botswana’s ability to withstand forecasted pressures especially in the commodities market and diamond price uncertainties,” he told the bank’s economic forum on Thursday.

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