Botswana growth forecast revised

source: Mmegi
STAFF WRITER

London-based Business Monitor International (BMI) has revised upwards its full year growth forecast for Botswana from -9.9 percent to -6.5 percent for 2009 because of significant recovery in diamond exports in the second quarter of the year. The firm now expects Botswana’s economy to have a robust growth in 2010.

“GDP growth in 2009 has not been as catastrophic for the economy as once had been anticipated. Indeed, with the economy having contracted less than previously envisaged in 2009 and given a rebound in exports, we are anticipating relatively robust growth in 2010,” BMI said in its recently published Botswana 2010 Business Forecast Report.

Following 450 bases points (bps) of interest rate cuts starting in November 2008, the Bank of Botswana (BoB) ended its easing cycle in [continue reading]

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