African Economic Outlook 2022. We forecast real household spending to grow by 5.9% in 2022, decelerating from the estimated growth of 9.4% in 2021. Press Releases. Press Releases. 9597, Thapama Circle, Francistown, Botswana. Inflation eased amid a strengthening currency, which, coupled with the rollback of some Covid-19 restrictions, bodes well for household spending. Indeed, we forecast real GDP to surpass pre-coronavirus levels in . Persistent deficits have elevated public debt, estimated at about 25.5 percent in 2022, whilst pandemic induced spending continues to put pressure on the fiscal budget with overall fiscal deficits set to wane into the medium term. At the conclusion of the discussions, Mr. N'Diaye issued the following statement: "The 2022 Article IV consultation discussions take place in a context of high volatility in global commodities, and COVID-19 outbreaks in Botswana's key trading partners. . Botswana's economic outlook will improve further in 2022. 02/06/2022 - The OECD will publish its latest Economic Outlook, containing analysis and projections for the world economy, OECD member countries, G20 countries and key partners, on Wednesday 8 June 2022.. OECD Secretary-General Mathias Cormann and Deputy Secretary-General/Chief Economist Laurence Boone will present the Outlook (in English, with French interpretation) during an event starting . Household consumption and fixed investment will be the largest drivers of headline growth in 2022 . The OECD Economic Outlook, Volume 2022 Issue 1, highlights the implications and risks for growth, inflation and living standards from higher commodity prices and potential disruptions to energy and food supplies, and discusses the associated policy challenges. Botswana: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Botswana. The economy likely continued to lose steam in the first quarter of 2022. At the conclusion of the discussions, Mr. N'Diaye issued the following statement: "The 2022 Article IV consultation discussions take place in a context of high volatility in global commodities, and COVID-19 outbreaks in Botswana's key trading partners. Rising oil prices and production throughout Q1 likely supported government finances. Data. IMF Staff Completes 2021 Article IV Mission to Botswana. Know Your Ministry - Economic and Financial Policy: Milidzani Gaabopiwe 201: Know your Ministry - Accountant General; Compliance and Procurement Division: Milidzani Gaabopiwe 238: Botswana SDGs Status Review: Milidzani Gaabopiwe 234: 2022 Monetary Policy Statement: Milidzani Gaabopiwe 2185: Labour Market and Job Creation Policy Brief According to the report the decrease in exports is attributed largely to the decline in diamonds exports by 7.4 percent (P596.3 million), from the February 2022 value of P8, 024.3 million. To fight the effect of the pandemic on its economy, the government of Botswana continued implementing a series of fiscal measures in 2021. April 9, 2021. Key View. Inflation (CPI): 2.0%. Botswana's total exports dropped by 4.7 percent (P415.7 million), from the February 2022 figure of P8, 801.2 million. Botswana is ranked 3rd among 47 countries in the Sub-Saharan Africa region, and its overall score is. Commodity prices have surged following the Russian invasion of Ukraine. selected by Global Finance editors, to learn more about Botswana economic outlook, debt to GDP ratio, international trade performance and population trends. International concerns about poor anti-money-laundering controls will continue to limit the growth of Botswana's private sector in 2022. Download Botswana's economy contracted by an estimated 8.9% in 2020, after growing by 3.0% in 2019, as the COVID-19 lockdown and other movement restrictions constrained economic activity. Botswana Economic Outlook. Botswana offers a stable political, fiscal, and macroeconomic environment. Botswana's annual inflation rate quickened to 10.6% in January of 2022 from 8.7% in the previous month, reaching the highest rate since March of 2009. November 18, 2020. Overview. June 2, 2021. IMF Staff Completes 2021 Article IV Mission to Botswana. Despite the strong outlook, the report says, long-standing challenges remain. The theme of the 2022 African Economic Outlook is Supporting Climate Resilience and a Just Energy Transition in Africa. Botswana Economic Outlook. Data African Development Bank African Economic Outlook 2022 Botswana Botswana Botswana - Imports of goods and services (current US$) Botswana - Gross capital formation, Private sector (current US$) Botswana - Gross capital formation, Public sector (% GDP) Botswana - Gross domestic product, (constant prices US$) On the supply side, mining output declined significantly, mainly due to falling global demand for diamonds. Botswana's ministry of Finance and Economic Development is however expecting a larger growth than IMF projections, pegging . Several constraints on press freedoms and the occasional arbitrary executive action have continued. PwC's South Africa Economic Outlook (June 2022) report focuses on a review of our core macroeconomic scenarios. Botswana. At Fitch Solutions, we have lowered our 2022 real GDP growth forecast for Botswana from 5.3% to 4.8% as economic headwinds have risen due to inflationary pressures and weaker external demand resulting from Russia's invasion of Ukraine. Greater global uncertainty amid the onset of the war in Ukraine should have dented business . Botswana: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Botswana. Article IV Staff Reports Publications. International concerns about poor anti-money-laundering controls will continue to limit the growth of Botswana's private sector in 2022. Botswana : Technical Assistance Report-National Accounts Mission. Global Data; Country Data; Botswana GDP and Economic Data; . The Gross Domestic Product (GDP) in Botswana expanded 6.50 percent in the first quarter of 2022 over the previous quarter. Botswana's economy is forecast to grow by 8.8 percent in 2021, an official said Tuesday. We forecast household spending in Botswana to grow by a real rate of 5.9% over 2022. . March . 241 0450, 240 0400 Further, household credit growth eased in the quarter. Although Botswana's per capita Gross Domestic Product (GDP) of $6.710.99 marks a five-year low and is a 19% decline from its 2018 peak, Botswana maintains its World Bank designation of an Upper Middle-Income Country. African Development Bank. The World Bank assessed Botswana's 2019 GDP at . Botswana : Technical Assistance Report-National Accounts Mission. FocusEconomics analysts project the economy to grow 4.4% in 2022, which is unchanged from last month's forecast, and 4.4% in 2023. Outlook To Strengthen Further In 2022. Private Bag F212, Francistown, Botswana. Botswana is located at the center of Southern Africa, positioned between South Africa, Namibia, Zambia, and Zimbabwe. Nonmining output also shrank, from both the pandemic . This will mainly reflect a positive contribution to growth from net exports and recovering private consumption as external and domestic Covid-19 headwinds recede. Unable to delete the page because it has shortcuts referencing it at the following locations: Please delete these shortcuts first, then delete page itself. African Economic Outlook 2022. This represents a much more sustainable economic recovery given that the growth reading is taken from a much higher base than the previous year. April 9, 2021. Botswana. Botswana Forecast Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. The president, Mokgweetsi Masisi, and his Botswana Democratic Party will remain in power during 2022-26, with limited risks to political stability. Botswana is ranked 3rd among 47 countries in . Outlook For 2022. The central bank reduced its policy rate to 3.75% in October 2020, after maintaining it at 4.25% from April to September 2020 and at 4.75% from September 2019 to March 2020. Commodity prices have surged following the Russian invasion of Ukraine. At Fitch Solutions, we forecast that Botswana's real GDP will expand by 7.4% in 2021, after contracting by an estimated 10.7% in 2020. State media has remained tightly controlled by the Office of the President. June 2, 2021. The IMF further predicts the economic growth will drop to 4.7 percent in 2022. The war in Ukraine is a major humanitarian crisis with associated economic shocks that threaten the post-pandemic recovery. Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. MASISI won his first election as president in October 2019, and he is Botswana's fifth president since independence. Botswana's economic growth will accelerate in 2022 in line with our expectations of a strengthening mineral outlook and increased diamond demand from China and India. Key content in this edition includes: Exchange rate: Geopolitics in Europe will continue to play a key role in the rand's valuation. Saturday, June 18, 2022. FDI Inflow: $80.0 million. Angola Economic Outlook. One of the world's poorest countries at independence in 1966, it rapidly became one of the world's development success stories. Despite having 17% of the current global population, Africa has accounted for a negligible 3% of cumulative worldwide CO2 emissions . The summarised results of the auction held on March 1, 2022 are attached below: Skip to main content English. June 21, 2022. Botswana's economic freedom score is 64.8, making its economy the 61st freest in the 2022 Index. Botswana's economic freedom score is 64.8, making its economy the 61st freest in the 2022 Index. The theme highlights climate change as a growing threat to lives and livelihoods in Africa and mirrors the theme of the 2022 Annual Meetings. English Chinese (Simplified) French German Portuguese Spanish +267 3606000 . Rankings of Botswana best banks and safest banks are also available. Botswana's economy contracted by an estimated 8.9% in 2020, after growing by 3.0% in 2019, as the COVID-19 lockdown and other movement restrictions constrained economic activity. The improvement is premised on conducive financing conditions associated with accommodative monetary policy and a sound financial environment, said Moses Pelaelo, the Bank of Botswana (BoB) Governor when presenting the 2021 monetary policy statement in Gaborone, Botswana's capital city. Significant mineral (diamond) wealth, good governance, prudent economic management . Botswana Forecast - was last updated on Sunday, July 3, 2022. Botswana Economy Data Sample Report 5 years of Botswana economic forecasts for more than 30 economic indicators. Inflation rose notably in the period, and should have dented household consumption. It is halfway through 2022 and an opportune time to relook forecasts for this year and 2023. This page provides the latest reported value for - Botswana GDP . Botswana - Imports of goods and services (current US$) Botswana - Gross capital formation, Private sector (current US$) New Wealth Out Of Africa . The country, whose economy is reliant on diamond exports, is now expected to grow by 9.2 percent, up from earlier projections of 8.5 percent. November 18, 2020. GABORONE, Aug 30 (Reuters) - Botswana now expects economic growth of 9.7% in 2021, compared with the 8.8% forecast in February, helped by higher diamond sales and a recent rebasing of GDP accounts,. The OECD Economic Outlook, Volume 2022 Issue 1, highlights the implications and risks for growth, inflation and living standards from higher commodity prices and potential disruptions to energy and food supplies, and discusses the associated policy challenges. The report also warned that Botswana's economic recovery from the pandemic should continue into 2022 amid higher prices and demand for diamonds, good rainfall in some parts of the country and increasing international tourist arrivals. Botswana. 05-May-2022: Botswana: The African Development Bank Supports Economic Diversification under the Country Strategy Paper 2022-2026: 04 . The IMF further predicts the economic growth will drop to 4.7 percent in 2022. Lower demand and fuel prices contributed to a reduction in the annual inflation rate from 2.8% in 2019 to 1.9% in 2020, below the Bank of Botswana's target range of 3%-6%. Botswana's economic growth rate projection was raised as part of countries that will benefit from rising commodity prices. Mineral extraction, principally diamond mining, dominates economic activity, though tourism is a growing sector due to the country's conservation practices and extensive nature preserves. World Economic Outlook; FSIs) The World Bank (Global Financial Development Report) European Central Bank (Financial Stability Review) . The country, whose economy is reliant on diamond exports, is now expected to grow by 9.2 percent, up from earlier projections of 8.5 percent. The Central Bank of Botswana left its benchmark interest rate steady at a record low of 3.75% during its February 2022 meeting, saying that short-term high inflation should be transitory. June 21, 2022. We forecast real GDP growth of 5.9%. Economic conditions should have improved in Q1. Botswana's economic growth will accelerate in 2022 in line . Despite having 17% of the current global population, Africa has accounted for a negligible 3% of cumulative worldwide The theme of the 2022 African Economic Outlook is Supporting Climate Resilience and a Just Energy Transition in Africa. Although the country's "Economic Recovery and Transformation . Francistown Branch. The main effect of the COVID-19 crisis on Botswana has been a reduction in global demand for the primary commodities on which Botswana's economy depends. Source: African Development Bank. We note that the Covid-19 pandemic and the related restrictions on economic activity resulted in real household spending contracting by 2.5% in 2020, creating a lower base for spending to grow from in 2021 and 2022. Article IV Staff Reports Publications. Private . Our Country Risk team expects private consumption to be the main driver of Botswana's economic growth in 2022, as disposable incomes and the labour market continue to recover from the impacts of the Covid-19 pandemic. GDP Growth Rate in Botswana averaged 1.29 percent from 1994 until 2022, reaching an all time high of 30.90 percent in the third quarter of 2020 and a record low of -26.50 percent in the second quarter of 2020. . 2022-02-24 The war in Ukraine is a major humanitarian crisis with associated economic shocks that threaten the post-pandemic recovery. Botswana Forecast - was last updated on Sunday, July 3, 2022. In 2022, the debt-to-GDP ratio is expected to widen to 27.2% and then decrease to 26.7% in 2023, with the phase-out of pandemic measures. the following fiscal legislations were proposed in the current year budget: the vat rate is to be increased by 2% from 12% to 14%, with effect from 1 april 2021. in line with the increase in the vat rate, the fuel levy will be increased by p1 to p1.12 per litre, with effect from 1 april 2021. the dividend withholding tax rate of 7.5% will also The theme highlights climate change as a growing threat to lives and