Southern Africa

Botswana expects smaller economic contraction in 2020

GABORONE (Reuters) – Botswana expects its economy to shrink by 8.9% in 2020, less severe than its previous forecast for a 13.3% contraction, boosted by better than expected mining output and a shorter lockdown, the central bank said on Tuesday.

“The ministry of finance now sees a lower economic contraction in 2020. The first number was based on an assumption of a longer lockdown and larger contraction in mining activities,” said Tshokologo Kganetsano, director of research and financial stability at the central bank.

Source: CNBC