IMF sticks to dim Botswana forecast

Friday, November 08, 2024 | 1030 Views |

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The International Monetary Fund (IMF) has maintained its projection that the local economy will experience one percent growth this year, as the recovery of diamonds from their slump takes longer than expected.

In the April edition of its World Economic Outlook (WEO), the IMF had projected 3.6 percent growth for Botswana in 2024, whilst government at the time of the February budget speech, expected a 4.2 percent expansion.

In a September update, after meetings with local fiscal and monetary authorities, the IMF revised this down to one percent, noting the impact of the diamond downturn and the risk that recovery could take longer than expected.

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