SOUTH AFRICA: Budget Postponed

Botswana's economy has faced sluggish growth, mainly due to declining diamond revenues.In 2024, GDP contracted by -3.1%, a sharp contrast to the 3.5% growth in 2023.While the nondiamond sector showed resilience with 4.2% growth, diamond mining and trading collapsed by 44.1%.The macroeconomic outlook remains uncertain, with Botswana's foreign exchange reserves dropping from P84.9 bn (2015) to P53.6 bn (2024).This sharp decline, coupled with a widening budget deficit, necessitates urgent fiscal discipline and revenue maximisation.