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Inside the bittersweet “record” economic growth figures

Friday, June 03, 2022 | 1270 Views |

Days of our lives: Fuel prices have increased by more than 40% on average in the last 24 months

The local economy’s robust rebound of 11.4% last year, the highest annual expansion since 1989, is not being felt in the streets where ordinary Batswana are battling to make ends meet. Economists unpack why the growth numbers are both important but little felt by the majority. Staff Writer, MBONGENI MGUNI reports

Cynics of economic growth figures frequently cite the quote made famous by US literary legend Mark Twain: “'There are three kinds of lies: lies, damned lies, and statistics”.

When Statistics Botswana recently announced that the local economy had expanded by 11.4% last year, the fastest growth since 1989, many cynics felt the data agency was either fiddling with the numbers or conveniently ignoring the troubles ordinary Batswana have been experiencing in recent years.

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