According to a recent report by UNICEF the share of the population living in extreme poverty stands at 13.5 per cent. In addition Botswana is still one of the most unequal countries in the world. Te BDP has come under fire from the opposition for failing to


include citizens in the mainstream economy after more than five decades of independence.


work, but the economy is adding jobs at a slower pace. Pressure is therefore mounting on the BDP due to unprecedented rise in unemployment levels. While the government is working to encourage economic diversification these efforts have not yet yielded sufficient results. According to a recent report by UNICEF the share of the


population living in extreme poverty stands at 13.5 per cent. In addition Botswana is still one of the most unequal countries in the world. Te BDP has come under fire from the opposition for failing to include citizens in the mainstream economy after more than five decades of independence. At the same time the lack of jobs has become a major issue and youth unemployment is alarmingly high. Data from the World Bank shows that Bots- wana’s youth unemployment rate currently stands at over 44 per cent while overall unemployment stands at around 26 per cent. In 2023 the economy as measured by the gross domestic product was projected to grow by 3.8 per cent, a decline from the 6.7 per cent recorded in 2022 as the economy was hit by a decline in demand for diamonds.


CURRENT ECONOMIC POLICY After serving as vice-president and education minister for four years under the presidency of Ian Khama, Mokgweetsi Masisi become the 5th president of Botswana in April 2018. Like all of his predecessors, he represents the Botswana Demo- cratic Party. Masisi an ex teacher pledged that he would give priority to tackling youth unemployment and diversifying its economy. Speaking before the United Nations in August 2022 he an-


nounced that Botswana should diversify its economy to reduce its heavy dependence on diamonds. Botswana is facing "an uphill battle" to attract investors to diversify its economy away from dependence on diamonds, the president said, while pointing out the resource is still the "bedrock" of its economy. Botswana has seen a recovery in economic growth this year.


S&P Global, an international provider of information and benchmark prices for the commodity and energy markets, has forecast a rebound in Botswana's economic growth in 2024. In February Finance Minister Peggy Serame said in a budget speech that growth was estimated at 3.2 per cent in 2023, lower than a previous forecast of 3.8 per cent, picking up to 4.2 per cent this year and 5.4 per cent in 2025 premised on the world economy recovering. Growth is expected throughout 2025-28, driven by the services and mining sectors. Te Minister announced that the government planned to


increase spending on infrastructure development in a "stimulus" budget. Serame emphasised that spending on infrastructure


163


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100  |  Page 101  |  Page 102  |  Page 103  |  Page 104  |  Page 105  |  Page 106  |  Page 107  |  Page 108  |  Page 109  |  Page 110  |  Page 111  |  Page 112  |  Page 113  |  Page 114  |  Page 115  |  Page 116  |  Page 117  |  Page 118  |  Page 119  |  Page 120  |  Page 121  |  Page 122  |  Page 123  |  Page 124  |  Page 125  |  Page 126  |  Page 127  |  Page 128  |  Page 129  |  Page 130  |  Page 131  |  Page 132  |  Page 133  |  Page 134  |  Page 135  |  Page 136  |  Page 137  |  Page 138  |  Page 139  |  Page 140  |  Page 141  |  Page 142  |  Page 143  |  Page 144  |  Page 145  |  Page 146  |  Page 147  |  Page 148  |  Page 149  |  Page 150  |  Page 151  |  Page 152  |  Page 153  |  Page 154  |  Page 155  |  Page 156  |  Page 157  |  Page 158  |  Page 159  |  Page 160  |  Page 161  |  Page 162  |  Page 163  |  Page 164  |  Page 165  |  Page 166  |  Page 167  |  Page 168  |  Page 169  |  Page 170  |  Page 171  |  Page 172  |  Page 173  |  Page 174  |  Page 175  |  Page 176  |  Page 177  |  Page 178  |  Page 179  |  Page 180  |  Page 181  |  Page 182  |  Page 183  |  Page 184  |  Page 185  |  Page 186  |  Page 187  |  Page 188  |  Page 189  |  Page 190  |  Page 191  |  Page 192  |  Page 193  |  Page 194  |  Page 195  |  Page 196  |  Page 197  |  Page 198  |  Page 199  |  Page 200  |  Page 201  |  Page 202  |  Page 203  |  Page 204  |  Page 205  |  Page 206  |  Page 207  |  Page 208  |  Page 209  |  Page 210  |  Page 211  |  Page 212  |  Page 213  |  Page 214  |  Page 215  |  Page 216  |  Page 217  |  Page 218  |  Page 219  |  Page 220  |  Page 221  |  Page 222  |  Page 223  |  Page 224  |  Page 225  |  Page 226