From Premium Times via All Africa

The International Monetary Fund, IMF, on Tuesday said Botswana witnessed a faster economic growth in 2013 due to improved mining sector performance.

Lamin Leigh, the Head of an IMF mission to Gaborone between April 22 and May 2, stated this in a report released at the end of the exercise.

Mr. Leigh said the team, which was in Botswana to conduct the 2014 Article IV Consultation, had fruitful discussions with critical economic stakeholders in the country.

“Botswana’s economy grew faster than expected in 2013 at about six per cent owing to the improved performance of the mining sector. The non-mineral sector slowed down from about six per cent in 2012 to about five per cent in 2013, due to recurring power supply disruptions and drought,” he said.

The IMF official said that for the first time in 15 years, headline and core inflation stayed within the Bank of Botswana’s medium-term objective range of three to six per cent.

“Data show that the government also recorded a small surplus in the 2013 fiscal year in the fiscal accounts through earners in current expenditure along with higher mining revenue,” Mr. Leigh said.

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