IMF raises forecast economic contraction for Botswana

Friday, July 03, 2020

Rumbling again: Economic activities have restarted, but a contraction is expected

The International Monetary Fund (IMF) now expects the local economy to contract by 9.6% this year, up from the -5.4% forecast made in April, BusinessWeek has established.

The institution, however, now also expects the country to bounce back higher in 2021 to 8.6% growth, from the April forecast of a 6.8% bounce back. The latest numbers are contained in a sub-Saharan Africa economic outlook issued by the IMF on Monday.

The IMF’s revised projections are still below government’s own forecasts, which predict that the economy will shrink by 13.1% this year.

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