Botswana economic growth up
Botswana growth up, to diversify bonds - finance minister
Reuters South Africa - Johannesburg,South Africa
JOHANNESBURG (Reuters) - Botswana's economy expanded by 6.2 percent in the fiscal year to June 2007, while average inflation slowed to 7.1 percent last year , although price pressures were building, Finance Minister Baledzi Gaolathe said on Monday. He also said in a budget speech a 19 percent jump in diamond exports helped widen the surplus on the current account and boost foreign reserves by $2.3 billion to $10.2 billion at the end of November. "The improved real growth in 2006/07 national accounts year is attributed to both the mining and non-mining sectors, which recorded significant growth rates," Gaolathe said in a written copy of the speech. Mining sector growth accelerated to 5.2 percent from 3.8 percent and the non-mining sector to 6.8 percent from 3.9 percent. The diamond-rich southern African country has had one of the best performing economies in the region, enjoying average growth of around 8 percent ... Government will also continue to support the development of the capital market with a regular bond issuance programme," he said. This will include the introduction of six-month treasury bills, and a regular programme of issue and re-issue of bonds to build up and maintain a presence across the yield curve from six months to 12 years." The Bank of Botswana would soon publish details of the programme. Gaolathe forecast a budget deficit of 0.4 percent of an estimated GDP of 83.245 billion pula for 2008/09, although this did not include salary increases for public servants ...
Reuters South Africa - Johannesburg,South Africa
JOHANNESBURG (Reuters) - Botswana's economy expanded by 6.2 percent in the fiscal year to June 2007, while average inflation slowed to 7.1 percent last year , although price pressures were building, Finance Minister Baledzi Gaolathe said on Monday. He also said in a budget speech a 19 percent jump in diamond exports helped widen the surplus on the current account and boost foreign reserves by $2.3 billion to $10.2 billion at the end of November. "The improved real growth in 2006/07 national accounts year is attributed to both the mining and non-mining sectors, which recorded significant growth rates," Gaolathe said in a written copy of the speech. Mining sector growth accelerated to 5.2 percent from 3.8 percent and the non-mining sector to 6.8 percent from 3.9 percent. The diamond-rich southern African country has had one of the best performing economies in the region, enjoying average growth of around 8 percent ... Government will also continue to support the development of the capital market with a regular bond issuance programme," he said. This will include the introduction of six-month treasury bills, and a regular programme of issue and re-issue of bonds to build up and maintain a presence across the yield curve from six months to 12 years." The Bank of Botswana would soon publish details of the programme. Gaolathe forecast a budget deficit of 0.4 percent of an estimated GDP of 83.245 billion pula for 2008/09, although this did not include salary increases for public servants ...