Botswana targets 5 percent and above for future economic growth rate

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Botswana is targeting a growth rate of 5 percent and above during the country’s 6-year development plan period expected to start in April 2023 until March 2029, an official said Wednesday.

The announcement was made by Wilfred Mandlebe, the permanent secretary in Botswana’s Ministry of Finance, during a mini-budget consultative meeting in Francistown, Botswana’s second-largest city.

The development plan, which has been termed the National Development Plan (NDP), represents Botswana’s crucial period for fiscal consolidation and acceleration of the country’s structural goals, said Mandlebe, citing economic diversification and digital transformation as well as socioeconomic aspirations around the creation of employment and inclusion as Botswana’s crucial structural goals.

“Growth target of 5 percent and above is in line with the country’s long-term vision of attaining high-income status by the year 2036,” said Mandlebe.

Vision 2036 aims to transform Botswana from an upper-middle-income country to a high-income country by the end of 2036.

According to Mandlebe, Botswana’s growth rate has for the past two years averaged 2.8 percent due to the COVID-19 pandemic.

Mandlebe, however, said several interventions, such as fast-tracking efficient delivery of public service reforms, digital transformation and other structural reforms were in place to help close the gap between the expected growth rates from the next year until 2029. Enditem

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