BoB warns of ‘muted’ economic recovery

Friday, April 25, 2025 | 270 Views |

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.

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