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Botswana's 2015 GDP growth forecast at 4.9 pct: official

Xinhua, February 4, 2015 Adjust font size:

The Botswana government on Monday said its domestic economy remains positive in 2015 and real GDP will grow by 4.9 percent.

Minister of Finance and Development Planning Kenneth Matambo said the real GDP growth of the southern African country was forecast to grow 4.9 percent in 2015, down from an estimated growth of 5.2 percent in last year.

The growth is mainly driven by the non-mining sectors including trade, hotels and restaurants, finance and banking, and social and personal services, said the minister when delivering 2015/16 budget speech in the National Assembly.

Matambo said increased diamond cutting and polishing, establishment in Selebi-Phikwe of the Steel Manufacturing Plant and the Horticulture Agro-Processing Plant and the rolling out of the postal and banking services to the rural areas are expected to contribute to the growth of the non-mining sectors in the future. These sectors are expected to contribute to growth and economic diversification.

Matambo promised the government will continue to adopt appropriate policies and strategies and make substantial budgetary allocations to human capital and physical infrastructure development. Endi