Botswana anticipates a significant economic rebound and projected growth of 3-4% in 2025, according to a senior government official, as reported by Diamond World.
This forecast follows a challenging 2024, during which Botswana’s economy contracted by 3.3% over the first three quarters, largely due to its heavy reliance on diamond exports and the struggles faced by the global diamond market.
The decline in sales led Debswana, the diamond mining joint venture between the Botswana government and De Beers, to reduce its production target by approximately 6 million carats. The company ended last year with a total rough diamond output of 17.9 million carats.
Now, Botswana expects a recovery in the diamond market, alongside various economic diversification initiatives and improved performance across other sectors, to help stabilize the local economy as early as this year.
