Mining sector experiencing signs of recovery

31 July, 2009 in Botswana, Business, Mining

source: The Botswana Gazette
Written by JFG
Wednesday, 29 July 2009 07:37

Botswana’s economy is expected to hit troubled times in the next year or so, BIFM Investment Committee has revealed. Gross Domestic Product (GDP) data for the first quarter of 2009 show that total GDP was 20 percent lower than in the same period of 2008, and that the economy is in a technical recession with the mining sector being largely hit.

The chairman of the Investment Committee Keith Jefferies has said the recession was not a shell negative growth on the economy as the non-mining private sector escaped unscathed but the other sectors will likely experience hardships.

The impact of the global crisis on the Botswana economy has, so far, been limited with real output in the non-mining private sector at 9.4 percent higher than a year earlier, with no signs of any growth downturn outside of mining.
Botswana has so far avoided a severe generalized short term impact from the global recession, reflecting the country’s limited dependence upon foreign capital flows, aid and [continue reading]

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