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Botswana's economy expanded more slowly than anticipated in Q113, as its real GDP growth rate came in at 3.2% year-on-year. An undiversified and export-oriented economy was notably affected by a fragile external environment and weak demand for diamonds on the global market. The latest data prompted slight revisions to BMI's GDP growth forecasts for 2013 and 2014, to 4.6% and 5.0% respectively (compared with 4.8% and 5.2% previously). Even so, we believe that growth will remain relatively well supported over the next few years, due to the robust expansion of mining-related investment and services. Although a favourable macroeconomic situation creates a strong base for the expansion in Botswana's food and drink industry, private consumption levels will remain subdued by high unemployment rates, wage ...
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