Economy grew 11.4% in 2021, fastest since 1989

High hopes: Finance minister, Peggy Serame expects the economy to expand by 4.3 percent this year PIC: PHATSIMO KAPENG
High hopes: Finance minister, Peggy Serame expects the economy to expand by 4.3 percent this year PIC: PHATSIMO KAPENG

The country’s real Gross Domestic Product rose by 11.4% last year, the highest annual growth rate since 1989 and a rebound from a record contraction in 2020, as an economist cautioned that the economy was still working back to its pre-pandemic trend path.

Figures provided by Statistics Botswana recently indicate that diamonds anchored growth last year, as both resurgent demand for the precious stones and relaxed border movements helped the sector’s performance.

“Diamond Traders recorded a massive growth of 78% as opposed to a decline of 36.7% recorded in the previous year,” Statistics Botswana researchers said in an update.

Editor's Comment
Tighten the law on drug dealers

Our youth are perishing; their once hopeful bright future is going down the drain; all because of illicit drugs.It is very easy to blame the addict, but it is not as simple as that! Drug dealing is a very lucrative business for some shameless people amongst our society and as such they have come up with tight strategies on how to push their business.Drug addiction is bad, and while the individual on drugs sometimes might have been the one who...

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