The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
This 2002 Article IV Consultation highlights that real GDP growth of Botswana slipped to an estimated 11/4 percent in 2001/02 (July-June), largely reflecting a downturn in the global diamond market and a drop in Botswana's diamond production. The non-mining sectors performed better, especially the service industries. Their success is in part a product of Botswana's market-friendly environment, sound macroeconomic policies, and investments in education and physical infrastructure. The overall fiscal balance moved into deficit in 2001/02 (April-March), only the second deficit in 20 years.