IMF cuts Botswana growth forecast

Friday, October 18, 2019

Services, particularly trade, hotels and restaurants are helping drive the economy

The International Monetary Fund (IMF) has reduced its forecast economic growth for Botswana this year to 3.5 percent from 3.9 percent, citing the subdued outlook for commodity prices and the impact of global trade tensions.

The IMF’s downward revision flies in the face of government’s own positive expectations for 2019 growth, as seen in a recent upward adjustment of the outlook from 4.2 percent to 4.3 percent.

Government said the higher output would be led by non-mining, specifically the services sector while ongoing structural reforms such as improving the ease of doing business would support the growth.

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IMF cuts Botswana growth forecast

The International Monetary Fund (IMF) has reduced its forecast economic growth for Botswana this year to 3.5 percent from 3.9 percent, citing the subdued outlook for commodity prices and the impact of global trade tensions.