Mmegi

Economy contracts again in Q1, but warming seen

Pushing growth: The Finance Ministry believes its policies and spending are supportive of the broader economy’s recovery
Pushing growth: The Finance Ministry believes its policies and spending are supportive of the broader economy’s recovery

The economy contracted by 0.3 percent in the first three months of the year, continuing its depressed performance seen in the prolonged diamond downturn, but signs of stability are emerging in key sectors.

According to figures published by Statistics Botswana this week, the 0.3 percent drop in economic value added in the first quarter, compares to a contraction of 5.2 percent for the corresponding period last year.

In terms of sectors, while key areas such as mining and diamonds, continued in the red, their decreases were nominally improved when compared to the previous corresponding period last year. Mining and quarrying contracted by 7.7 percent in the first quarter, compared to a drop of 24.9% over the same period last year, whilst diamond traders, which represents cutting and polishing activities, contracted by 36.2% in the first quarter, compared to a fall of 46% last year.

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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