Botswana’s 2024 economic growth forecast revised down to single digits

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Sunday Standard

Botswana’s 2024 economic growth forecast revised down to single digits

The International Monetary Fund (IMF) has lowered its forecast for Botswana’s economic growth in 2024 to 1%, a sharp drop from the 3.6% forecast in April. The IMF’s latest statement said the adjustment was mainly in response to a sharp drop in diamond production.

The IMF also forecast that the budget deficit will widen, expected to reach 6%, compared with a previous forecast of 3.45%. The increase is attributed to a decline in mineral revenues. To address economic challenges, the IMF recommended that Botswana consider slowing down new infrastructure projects to help ease the deficit and focus on initiatives with the highest returns.

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Posts Botswana’s 2024 economic growth forecast revised down to single digits First appeared in Sunday Standard And by Cedric Swanka

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