Mmegi

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
Gov't must guard against cadre deployment

As the Botswana National Front (BNF) discusses a policy to place suitably qualified members in strategic positions, the guiding consideration should remain whether an individual is the best person to serve the country. There is nothing wrong with qualified party members applying for public positions. Political affiliation should neither disqualify a capable candidate nor give them an advantage over others. Every Motswana deserves a fair...

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