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The high-income dream is just a mere dream

Friday, November 17, 2023 | 1760 Views |

Heart of the city: Government is holding onto the hope of the country becoming a high-income economy by 2036. Other economists say all indicators are that the dream is unachievable PIC: PHATSIMO KAPENG

By 2036, Botswana aims to be amongst the world’s economic crème de la crème, those ranked as high-income countries (HIC). A lofty dream it is and as the nation tries to catch up, economic growth figures will have to hit double digits and remain positive and consistent amidst an array of uncertainties.

But as the Biblical manuscripts rightly point out: who builds a house without first considering its cost?

To reach the status of a high-income economy, Botswana will have to significantly increase its wealth levels, a near doubling in Gross National Income per capita (GNIpc), to reach the World Bank threshold of $13,205. In 2021, Botswana’s actual GNIpc was $6,610 and current GDP figures are generally trending downwards quarter-on-quarter as the economy settles deeper into economic stagnation.

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