Economy of Botswana

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The economy of Botswana is now one of the world's fastest growing economies.[1] After a period of stagnation at the turn of the 21st century, Botswana's economy had strong levels of growth, with GDP growth exceeding 6-7%. Botswana has been praised by the African Development Bank for sustaining one of the world's longest economic booms.[2]

Botswana's sharp economic growth was because of built on a foundation of diamond mining, prudent fiscal policies, international financial and technical assistance, and a cautious foreign policy. Botswana's economy is mostly dependent on diamond mining. Diamond mining contributes to 50% of the government revenue.[3] It is the least corrupt country in Africa in the Corruption Perceptions Index by international corruption watchdog Transparency International. It has the fourth highest gross national income per capita in purchasing power in Africa and above the world average.[4]

Even though Botswana's economy is really good, its heavy dependence on mining and its high rate of HIV/AIDS infection and unemployment might make it a really bad country in the future.

References[change | change source]

  1. "Overview".
  3. Makoni, Patricia Lindelwa (4 May 2017). "Exploring economic structure and drivers of economic growth in Botswana". Journal of Governance and Regulation. 4: 672–678 – via researchgate.
  4. "GNI per capita, PPP (current international $)". World Bank. Retrieved 12 January 2020.