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17 paź 2024 · Botswana continues to face structural challenges, slow growth, and the lingering impacts of global and climate-related shocks. The unemployment rate—one of the leading causes of poverty and inequality in Botswana—increased from 18.9% to 23.6% between 2015 and 2023.
Botswana Economic Outlook. Recent macroeconomic and financial developments. Real GDP growth shrank to 2.7% in 2023 as water and electricity production declined and the diamond trade slowed.
After a period of stagnation at the turn of the 21st century, Botswana's economy registered strong levels of growth, with GDP growth exceeding 6–7% targets. Botswana has been praised by the African Development Bank for sustaining one of the world's longest economic booms. [20]
Botswana’s economic vulnerabilities were exposed during the 2008–2009 Great Recession and again following the emergence of the COVID-19 pandemic in 2020. The main effect of the COVID-19 crisis on Botswana has been a reduction in global demand for the primary commodities on which Botswana’s economy depends.
Botswana’s once rapidly growing economy, which was the fastest in the world, is now overshadowed by its heavy reliance on diamond mining. While the government has maintained a relatively prudent macroeconomic stance, the economy remains vulnerable to external shocks.
21 sty 2023 · Botswana staved off the threat of recession in the third quarter of 2022 with a modest growth in the Gross Domestic Product (GDP) but the economy remained in choppy waters as high inflation driven by high fuel prices persisted throughout that year, data from Statistics Botswana (SB) shows.
Botswana’s transformation toward a mature economy has been slow, in part owing to sluggish economic diversification and declining minerals revenue, particularly from diamonds. The vulnerability of Botswana’s economy was demonstrated during the 2008 and 2009 global financial crisis.
