Mmegi

BoB warns of ‘muted’ economic recovery

At the helm: Dekop flanked by his two deputy governors, Kealeboga Masalila (left) and Lesego Caster Moseki PIC: MBONGENI MGUNI
At the helm: Dekop flanked by his two deputy governors, Kealeboga Masalila (left) and Lesego Caster Moseki PIC: MBONGENI MGUNI

The Bank of Botswana has warned that tremors from the ongoing global trade disruption as well as slow implementation of urgently required local reforms, could result in a muted recovery of the economy this year, potentially landing it lower than the expected 3.3 percent rebound.

In his February budget speech, Finance Minister and Vice President Ndaba Gaolathe, had forecast growth of 3.3 percent this year, based on the hope that diamonds would recover from their slump in the latter part of the year, whilst the non-diamond sector would continue its support of the economy.

The recovery is eagerly hoped for, as the economy shrank by three percent last year, owing to the prolonged downturn in diamond activities.

Editor's Comment
The Boko-led administration has to tread carefully

‘When you make peace withyourself, you make peace with the world’- Maha GhosanandaThis may come at a huge cost if not handled properly. What started off on Labour Day in Letlhakane this year, where Boko was in attendance when the militant lawyer-cum-trade unionist, Robert Rabasimane rebutted the President’s address in defence of the trade union has seemingly spiralled out of control. The issue is now creating a cat-and-mouse type of a...

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