Botswana’s GDP to slow to 3.5% in 2019 – IMF

The President of Botswana, Mokgweetsi Masisi, delivers his speech after being sworn in as the 5th President of the country in Gaborone on November 1, 2019. PHOTO | MONIRUL BHUIYAN | AFP

GABORONE (Reuters) – Botswana’s economic growth will slow to about 3.5% in 2019 from 4.5% in 2018, before speeding up to around 4.2% in 2020 if the southern African nation can shake-off the effects of weak diamond exports and drought, the IMF said on Wednesday.

“The outlook is subject to significant downside risks, including a global rise in protectionism, a faster-than-anticipated slowdown in China and in the euro area, and continued slow growth in South Africa,” said the International Monetary Fund in a statement.