Economic recession looms

Debswana is cutting output on softer demand for rough diamonds
Debswana is cutting output on softer demand for rough diamonds

An expected fall in diamond production in the fourth quarter of 2015 is likely to pull the economy into recession after Gross Domestic Product (GDP) softened by 3.5 percent in the third quarter of last year.

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.

Editor's Comment
UDC's 100 Days: Please deliver your promises!

We duly congratulate them to have ousted the long ruling Botswana Democratic Party (BDP) from power. Prior to taking power from the BDP, the coalition had made several election promises that are credited for influencing change and swaying the people to vote in its favour.The party had made an undertaking, which its leader and President Duma Boko consistently bellowed in his campaign trail. These undertakings were promises that Batswana would be...

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