12 °c
London
Monday, August 15, 2022
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Economy

Botswana sees GDP growth of 4.3% in 2022

FurtherAfrica by FurtherAfrica
September 24, 2021
in Africa, Botswana, Development, Economy
Reading Time: 1 min read
782 50
0
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

Botswana government estimates that its economy will grow at a rate of 4.3% in 2022, according to a budget strategy document published on Thursday, as the country emerges from the pandemic and reaps the benefit of higher commodity prices.

The document, presented by the Finance Ministry, estimated a GDP growth of 4.2% in 2023.

The resource-rich country heavily relies on diamond mining, which accounts for a fifth of its GDP and more than two-thirds of its foreign exchange income.But its over-dependence became its biggest vulnerability when the coronavirus crisis crashed diamond prices and demand, forcing the economy to shrink by almost 8%.

Also read: Mozambican GDP grows 1.97% in the second quarter

The prices have recovered now and ratings agency S&P last week revised its outlook to stable from negative, saying an economic rebound, supported by a strong diamond sector recovery, will lead to an improvement in fiscal and external performance over the next two years.

However, despite the higher GDP projection, Botswana expects its budget deficit to widen to 4% of GDP in 2022 from 3.7% in 2021, the document showed, adding that deficit financing will push public debt to 26.8% of the GDP in 2022 from 22.4% in 2021.

It also revised down its 2021 mineral revenue forecast to 20.2 billion pulas ($1.81 billion) from 23.1 billion pulas, the document showed.

Related

Source: NASDAQ
Tags: BotswanaBotswana Finance MinistryBotswana sees GDP growth of 4.3% in 2022diamondMiningботсванаبوتسواناボツワナ博茨瓦纳
ScanSendShare333Tweet208Share58Pin75Send
FurtherAfrica

FurtherAfrica

Founded in 2015 FurtherAfrica is an online platform centralising news and content focusing on the development and growth story of the African continent.

Related Posts

Agriculture

Largest fertiliser-producing countries in Africa and their output

by The Exchange
August 15, 2022
Financial Inclusion

The role of the youth in driving financial inclusion in Africa

by Emmanuel Chilamphuma
August 15, 2022
Energy

Zambia and Tanzania agree to revamp TAZARA, expand TAZAMA pipeline

by The Exchange
August 15, 2022
IMF, World Bank say Africa to get US$57B from official creditors in 2020
Finance

HAVAÍC backs FinAccess

by Africa Global Funds
August 15, 2022
Trade

Ethiopia expects US$1.8B revenue from coffee export this year

by FurtherAfrica
August 15, 2022
Angola Oil & Gas 2022
 
AFSIC 2022
 
Great Limpopo Transfrontier Park
 
MozParks

Translate this page

Read the Latest

Agriculture

Largest fertiliser-producing countries in Africa and their output

by The Exchange
August 15, 2022
0

Morocco tops the list of the largest-fertiliser producing countries in Africa. Other countries on the list are Egypt and Algeria....

Read more

The role of the youth in driving financial inclusion in Africa

August 15, 2022

Zambia and Tanzania agree to revamp TAZARA, expand TAZAMA pipeline

August 15, 2022
IMF, World Bank say Africa to get US$57B from official creditors in 2020

HAVAÍC backs FinAccess

August 15, 2022

Ethiopia expects US$1.8B revenue from coffee export this year

August 15, 2022

FurtherAfrica Partners Network

The Exchange Club of Mozambique Taarifa Rwanda
TechGist Africa Africa Oil & Power Farmers Review Africa
Tanzania Invest Zambia Invest See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
Digilogic Africa Web3Africa

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 99,379 other subscribers.

FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?