Cape Town - Botswana's economic growth for this year and 2014 is expected to remain sluggish, similar to the 3.7 percent seen in 2012, central bank governor Linah Mohohlo said on Friday.
“Certainly, the forecasts indicate that economic growth is going to be below 5 percent. It will be at similar levels to last year because mainly mining production is going to be affected negatively,” Mohohlo told Reuters on the sidelines of the World Economic Forum Africa meeting in Cape Town.
The central bank in the diamond-producing country cut rates to 9 percent in April to spur growth, saying this was in line with achieving a 3 to 6 percent inflation target in the medium term.
Mohohlo, who has been at the bank's helm since 1999, said if administered prices, which include oil, housing and transport costs, were reasonable, inflation could fall back within the target range by the end of the year. - Reuters