Economists call for �dramatic economic reform�

Jefferis PIC: BOINGOTLO SEITSHIRO
Jefferis PIC: BOINGOTLO SEITSHIRO

Amid the deterioration in business confidence, declining economic growth and rising unemployment in Botswana, economic experts say there is need for ‘dramatic reforms’ to reverse the situation.

These reforms, according to the experts, should be based on opening up the economy, deregulation and streamlining administrative procedures relating to all aspects of doing business in Botswana, for both citizens and foreigners.

A first quarter research for 2017 by economists at Econsult Botswana, Keith Jefferis and Sethunya Sejoe said the necessary reforms to the business environment are wide-ranging and extensive, and will change many of the current processes.  “This is of course the whole point, simple ‘tinkering’ or worse, doing nothing will simply accentuate the process of declining growth and rising unemployment, with obvious implications for social stability,” they said.

Editor's Comment
Botswana at a critical juncture

While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...

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