IMF raises Botswana 2021 growth forecast

According to the IMF’s eagerly awaited October update of the World Economic Outlook released on Tuesday, researchers at the Washington-based institution expect the local economy to grow by 8.7 percent next year, from their July estimate of 8.6 percent.

Analysts say the marginal difference reflects the broader, updated IMF view of a less severe than the initially forecast global crunch from the coronavirus (COVID-19) pandemic.In its latest update, however, the IMF, has maintained its forecast that the Botswana economy will contract by 9.6 percent this year. Government expects the local economy to shrink by 8.9 percent this year and bounce back to 7.7 percent growth in 2021.