Economic recession looms
Friday, January 08, 2016
Debswana is cutting output on softer demand for rough diamonds
Technically, an economy falls into a recession after two consecutive quarters of negative growth.
Latest data recently released by Statistics Botswana (SB) shows that real GDP (year on year) decreased by 3.5 percent in the third quarter of 2015 compared to an increase of 4.0 percent accrued in the same quarter in 2014.
It is a clear signal that the government’s purse is empty and that our own behaviour has left veterinary officials fighting with one hand tied behind their backs. We have been here before. During COVID-19, many of us thought we knew better. We ignored simple rules, we carried on as if the danger was someone else’s problem, and the virus took lives and left our economy on its knees. We are still broke from that experience. Yet now, with FMD...