IMF predicts lukewarm economy in 2013 :: Mmegi Online

The International Monetary Fund (IMF) predicts that the Botswana economy will grow by 3.9 percent this year. The forecast is marginally above the 3.7 percent recorded in 2012, with strong non-mineral activity compensating for the expected weakness in the mining sector.

In the World Economic Outlook (WEO) report released this week, the IMF says it sees the local economy growing at a steady rate again next year before growth picks up slightly to 4.4 percent in 2015 supported by the base effect of increased electricity production and a recovery in the mining sector.

The economy is expected to subsequently stabilise at around 4 percent thereafter. The IMF predictions follow this week's publication of strong second quarter Gross Domestic Product (GDP) figures by Statistics Botswana, in which a robust recovery in diamond production saw the country recording the highest quarterly economic growth figures in almost three years.

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