Botswana’s economy seen shrinking almost 1% in 2025 due to diamond sector woes
Botswana’s government now forecasts an economic contraction of almost 1% this year as its key diamond sector continues to struggle, its finance minister said in a budget review on Friday. When the main budget was presented in February the Southern African country’s government had hoped for a 3.3% gross domestic product (GDP) expansion this year, rebounding from last year’s 3% contraction. But by mid-year it was projecting almost no growth as a prolonged downturn in the global diamond market showed no sign of abating.