Mmegi

Middle East unrest weighs on deficit, inflation

Under pressure: Finance Minister, Ndaba Gaolathe PIC: KENNEDY RAMOKONE
Under pressure: Finance Minister, Ndaba Gaolathe PIC: KENNEDY RAMOKONE

The impact of ongoing conflict in the Middle East is likely to push average inflation to double digits, whilst widening the budget deficit and delaying a return to fiscal stability, researchers at Standard Chartered have said.

In a recent research report, Emmanuel Kwapong, Economist Africa at Standard Chartered, said the Middle East conflict was likely to worsen the country’s existing macroeconomic challenges, which largely emanate from the prolonged weakness in diamonds.

“We now expect a more subdued recovery in the diamond sector, Botswana’s key growth driver, as the conflict weighs on global growth and discretionary spending in key diamond end-markets," he said.

Editor's Comment
Appeal to public transport operators to exercise caution

Those who occasionally use highways like the A1 and A3 roads will bear testimony to have experienced this firsthand as they have been overtaken by overspeeding buses. Sadly, some of the passengers are the ones who urge some bus drivers to overspeed.The result of this madness is the horrific accident that claimed lives of nine people on Sunday evening near Lechana settlement along the A1 Highway.It is reported that the incident occurred after the...

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