BoB expects economy to miss 4.2% growth projection

Influencing policy: Dekop says more impetus is needed to improve implementation in government PIC PHATSIMO KAPENG
Influencing policy: Dekop says more impetus is needed to improve implementation in government PIC PHATSIMO KAPENG

The Bank of Botswana says the economy is unlikely to grow by the 4.2% forecast by government earlier in the year, due largely to the underperformance of the mining sector in the first half of the year.

Growth narrowed to 2.7% last year from 5.5% in 2022, due largely to a downturn in diamond mining in the second half of 2023, as global uncertainties and market issues dampened the retail market.

During a briefing on Tuesday, the Bank’s director of research and financial stability, Innocent Molalapata, told BusinessWeek that the economy’s performance in the first half of the year was an indication that the 4.2% growth forecast would likely be missed.

Editor's Comment
CoA brings sanity to DIS/DCEC long-standing feud

This decision follows the raiding of the office of the former Director General of the DCEC, Tymon Katlholo early 2022 and his staff officer by the DIS operatives who reportedly took files that they had targeted.After all back and forth arguments, the CoA has set the record straight giving an invaluable lesson to the DIS that it was no super security organ and it does not have any powers to cogently supervise other security organs including the...

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