Economy shrank by 7.9% in 2020 - Statistics Botswana

Figures released by Statistics Botswana earlier today show that while the economy improved in the fourth quarter, registering a contraction of 4.1% from a contraction of six percent in the third quarter, the full year performance reflected analyst projections of unprecedented pressure.

Government had projected a contraction of 7.7% for 2020, while the African Development Bank expected 8.9%. The figures released this morning are however an improvement from the 13.1% contraction Finance Minister, Thapelo Matsheka initially estimated in April 2020 after the onset of COVID-19 in the country.