Economic activity expected to expand

The Central Bank has announced that relative stability in water and electricity supply are expected to support the expansion of economic activity in the non-mining sectors.

This was revealed by Bank of Botswana Governor, Moses Pelaelo at the recent Monetary Policy Committee (MPC) media briefing held at the bank’s head office in Gaborone.

Pelaelo also said the country’s Gross Domestic Product (GDP) is projected to expand in the short to medium term, a situation influenced by the stability in water and electrical supply and the projected accommodative monetary conditions in the domestic economy and expansion in government expenditure.

He also highlighted that real GDP grew by 3.3 percent in the twelve months to March 2018, compared to 4 percent in the year to March 2017, stating that the slower growth reflects a lower increase of 3.8 percent in non-mining activity, compared to 6 percent in the corresponding period in 2017.

 

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