Report predicts 5% GDP growth for Botswana :: Mmegi Online

Spurred on mainly by unprecedented activity in the mining sector, Botswana's GDP is expected to pick up from a disappointing 4.2 percent recorded in 2006, a report from a global business consultancy firm shows. The Grant Thornton International Business Report for 2007 predicts Botswana's 2007 GDP growth to be as high as 5 percent from 4.2 in 2006.

"The mining sector encountered some problems in 2006 as output contracted, undermining GDP growth which came in at a little over 4 percent, the weakest performance for many years," says the report.

"With mining output showing signs of recovering from the setback in 2006, GDP growth is expected to be between 4.5 percent and 5 percent." Buoyed by strong mining earnings, Botswana's economic growth has been very vibrant in the past decades, averaging over 7 percent, with diamond mining accounting for a third of GDP and around 75 percent of export earnings.

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Report predicts 5% GDP growth for Botswana

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