Is Botswana facing another Economic Crisis?

Batswana should brace themselves for another economic crisis during which the economy is likely to take a knock, the Vice President, Dr Ponatshego Kedikilwe has said. Dr Kedikilwe said, Botswana’s exports, especially diamonds would be negatively affected and in turn slow down the economy and the national development plan. He said Batswana should not expect government to undertake any new major projects during this time. The Vice President, who is also Member of Parliament for Mmadinare, said this during a kgotla meeting in Mogapi on Tuesday. He said the diamond revenue, which Botswana’s economy relied heavily upon, would generated less revenue this year. He said price of the precious stone and its sales were expected to fall as a result of the economic crisis. “The world economic recession has hit hard on Botswana’s economy, and we have been relying on loans for economic development since 2008/2009, resulting on a budget deficit,” he said. To that extent, he said, government needed to prioritise projects and only carried out those considered imperative to the country’s economic development. Government would also endeavour to complete existing projects and not start new ones.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top