Spearheading Botswana’s economic growth :: Mmegi Online

The Botswana 2023–2024 financial year Budget was presented in a challenging global operating environment due to the conflict between Russia and Ukraine. This has led to a slowdown in global growth and is expected to affect the Sub-Saharan African region.

Despite this, the Botswana economy has shown strong resilience and grew by 11.8% in 2021, the fastest growth rate in sub-Saharan Africa. The growth is expected to continue in 2022, with the economy estimated to grow by 6.7 percent once Statistics Botswana has validated it on their end.

In 2023 and 2024, growth is projected atfour percent and 5.1 percent respectively, due to better-than-expected performance of the mining and non-mining sectors. However, there are macro-fiscal risks such as slowing growth and a possible recession in advanced countries, which may affect diamond sales, rising COVID-19 infections in China, and global inflation risks.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.