Rising Diamond Demand Behind IMF Upping Botswana Growth Forecast
August 14, 17(IDEX Online) – Rising diamond demand has been cited by the International Monetary Fund (IMF) as one of the reasons for revising upwards Botswana's 2017 and 2018 economic growth forecast. Among the other reasons are the country's investment in the water and power sectors and reforms to attract foreign investment.
The IMF upped the country's economic growth forecast to 4.5 percent in 2017 and 4.8 percent in 2018.
"The forecast assumes a gradual pace of reforms to improve the efficiency of the public sector and foster private sector activities," the IMF said.
After a downturn in 2015, economic growth is seen gradually rising due to a recovery in the diamond market and moderate fiscal stimulus, the IMF commented.