Botswana’s economy is expected to grow 3% to 4% in 2025 after a contraction last year, a senior government official said at a budget workshop on Friday, as the global diamond market is anticipated to recover.<\/p>\n
The Southern African country’s economy shrunk 3.3% in the first three quarters of 2024, raising government expectation of a bigger contraction than the 1.7% forecast in December. An updated contraction estimate was not given.<\/p>\n
“The domestic economy is anticipated to rebound in 2025 to a growth of 3-4%, reflecting a combination of base effects, the global recovery in the major diamond export markets and continued growth in the non-mining sector,” director of macroeconomic policy in the finance ministry, Walter Matekane, said.<\/p>\n
Botswana’s economy is largely dependent on the export of diamonds, and declining earnings from the precious stone have limited government spending.<\/p>\n
Diamond sales remained weak throughout 2024 and Debswana, a joint venture between Botswana and De Beers, lowered its production guidance for last year by about 6 million carats to 17.9 million carats.<\/p>\n
Botswana expects a recovery in mineral revenues to narrow the budget deficit to 3.6% of gross domestic product (GDP) in 2025\/26 from 6.75% of GDP forecast for the 2024\/2025 fiscal year, a presentation by Matekane showed.<\/p>\n
Botswana’s finance minister Ndaba Gaolathe is expected to deliver the 2025\/26 national budget in February.<\/p>\n","protected":false},"excerpt":{"rendered":"
Botswana’s economy is expected to grow 3% to 4% in 2025 after a contraction last year, a senior government official said at a budget workshop on Friday, as the global diamond market is anticipated to recover. The Southern African country’s economy shrunk 3.3% in the first three quarters of 2024, raising government expectation of a […]<\/p>\n","protected":false},"author":1,"featured_media":12456,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":1,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Reuters","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[32,30],"tags":[212],"class_list":["post-14927","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-southern-africa","tag-botswana"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/14927","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=14927"}],"version-history":[{"count":0,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/14927\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/12456"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=14927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=14927"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=14927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}