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Botswana: Fiscal deficit to drop to 2.3% of GDP

Tuesday, 18 September 2018 18:24

(Ecofin Agency) - This year, Botswana’s fiscal deficit would drop to 2.3%, a release from the country’s finance ministry informed today September 18, 2018.

According to the information reported by Reuters, this new forecast is higher than the 1.8% previously forecasted. This would be due to a downward revision of the mining revenues which are the country’s main source of revenue.

Upon his arrival in April 2018, the new president Mokgweetsi Masisi (photo) announced that he would stop this dependence on the mining industry and diversify revenue sources.

Let’s note that Botswana expects its economic growth to stand at 4.5% in 2018, lower than the 5.3% previously announced in February 2018, according to statements from Kelapile Ndobano, vice secretary of microeconomic policy at the finance ministry.

Moutiou Adjibi Nourou

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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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