Local economy could shrink by 5.4%, IMF says

Should the figure projected by the IMF be realised, 2020’s contraction will the second worst annual GDP performance in the country’s history since the -7.7% recorded in 2009 when the global recession hit local shores.

In its World Economic Outlook released yesterday, the IMF forecast that growth would bounce back to 6.8% for Botswana in 2021. That level, if realised, would be the highest on an annual basis since 2013 when the local economy expanded by 11.3%.