Economic growth reduces poverty

source: BOPA
06 November, 2007

PARLIAMENT – President Festus Mogae says the continued economic growth is expected to help reduce poverty levels to about 23 per cent by 2009.

He said in his State-of-the-Nation Address yesterday that Botswanas economic growth has contributed to a steady reduction in poverty levels from 59 per cent in 1986 to 47 per cent in 1994 and 30 per cent in 2004.

Our progress in this area has earned us the accolade of being this continents leader in poverty reduction. But clearly we still have some way to go.

President Mogae said in recent years his government has been able to control the rate of inflation, despite a sharp rise in the cost of such critical imports as petroleum.

This years inflation rate, which has been hovering at around seven per cent, is now at the upper end of the Bank of Botswanas target. Inflation is projected to further ease in the coming year.

He added that such progress as we have achieved can, in part, be attributed to our now widely recognised record of maintaining and enhancing a conducive environment for domestic and foreign investment, through our long standing commitment to [continue reading]

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