Economy grinds to a halt » TheVoiceBW

Economy grinds to a halt » TheVoiceBW

Botswana will cut its 2025 economic growth forecast to almost zero due to a prolonged downturn in the global diamond industry, with the budget deficit also widening due to reduced diamond revenue. Botswana is the world’s leading producer of diamonds by value and its economy largely depends on diamond exports, which typically account for 30% of national revenues and 75% of foreign exchange receipts. In the 2025 budget announced in February, finan…