Botswana’s economy forecast to shrink as diamond sector slumps

Botswana’s economy forecast to shrink as diamond sector slumps

Botswana’s economy is forecast to shrink by 0.9% this year, the country’s finance minister said, amid a prolonged downturn in the diamond market. Botswana, the world’s largest producer of diamonds by value, relies on the precious stones for around one-third of its national revenues and three-quarters of its foreign exchange receipts. The economic struggles have hit public services hard, leading the government to declare a national health emergen…