• Debswana completes refurbishment of Camphill Trust projectSeptember 11, 2025
    The Orchard Restaurant reopens   GORATAONE KGOSIMORE RelatedPosts Debswana completes refurbishment of Camphill Trust project KHAMA IV INITIATIVES SPARK TRIBAL TENSIONS BSB leads Africa’s banking revolution  editors@thepatriot.co.bw   Debswana through itsCorporate Social Investment (CSI) Programmelast year funded the Camphill… Read more: Debswana completes refurbishment of Camphill Trust project
  • KHAMA IV INITIATIVES SPARK TRIBAL TENSIONSSeptember 11, 2025
    Nkange MP dismisses Bangwato authority in Tutume To bring motion to repeal of Tribal Territories Act ‘It’s not asserting control but promotion of arts, sports’- Khama IV KITSO RAMONO editors@thepatriot.co.bw RelatedPosts Debswana completes refurbishment of Camphill Trust project KHAMA… Read more: KHAMA IV INITIATIVES SPARK TRIBAL TENSIONS
  • BARODSA VACANCY – Managing Directorcum Chief Executive OfficerSeptember 10, 2025
    RelatedPosts BARODSA VACANCY – Managing Directorcum Chief Executive Officer GREAT PLAINS- VACANCY CHOPPIES VACANCY – CHIEF OPERATIONS OFFICER (COO)
  • GREAT PLAINS- VACANCYSeptember 10, 2025
    RelatedPosts BARODSA VACANCY – Managing Directorcum Chief Executive Officer GREAT PLAINS- VACANCY CHOPPIES VACANCY – CHIEF OPERATIONS OFFICER (COO)
  • CHOPPIES VACANCY – CHIEF OPERATIONS OFFICER (COO)September 9, 2025
    RelatedPosts BARODSA VACANCY – Managing Directorcum Chief Executive Officer GREAT PLAINS- VACANCY CHOPPIES VACANCY – CHIEF OPERATIONS OFFICER (COO)
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
  • Login
  • Register
Friday, September 12, 2025
The Patriot On Sunday
Advertisement
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
Cart / $0.00

No products in the cart.

  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
The Patriot On Sunday
No Result
View All Result

Low mining output harm GDP

patriot by patriot
February 8, 2021
in Business
0

Bank of Botswana (BoB) Governor Moses Pelaelo has said the Gross Domestic Product (GDP) recorded a significant decline in 2019  growing by 3.9 percent in the twelve months to June 2019,compared to a faster expansion of 4.9 percent in the corresponding period.

Briefing the media on the Monetary Police Committee (MPC) meeting on Thursday, Pelaelo said the lower increase in GDP is mainly attributable to decline in growth of the local mining sector.

RelatedPosts

BSB leads Africa’s banking revolution 

RMB hosts CEOs Roundtable on Renewable Energy

BIHL withstands tough times

The sombre mining statistics reveal that the mining output grew by 1.4 percent in the year to June 2019, compared to 5.6 percent in the corresponding period in 2018.

According to the Governor, the lower increase is, in the main, due to significant reduction in growth of diamond output from11.8 percent to a mere one percent in the period under review.

“The fall in diamond output is mainly due to the decline in diamond production by Orapa mine, following a planned plant shutdown in April 2019.Non-mining GDP grew by 4.2 percent in the 12 month period to June 2019, equated to 4.8 percent in prior period end June 2018,”he added.

The lower expansion in non-mining, he said, was largely attributable to a slower growth of the trade, hotels and restaurants sector, reflecting weak perfomance across diamond industries.

Statistics Botswana data show that overall mining production declined by 8.7 percent in second quarter of 2019, with diamonds accounting for 8.1 percent of the fall.

The quarter-on-quarter analysis showed a decrease of 4.1 percent from the index of massive 89.6 percent during Q1 of 2019 to 85.9 percent during the Q2 of this year.

The bank has decided to maintain the bank rate at 4.75 percent; having been reduced to that level in the last MPC meeting.

Pelaelo said inflation increased from 2.9 percent in September 2019, the lower bound of the bank’s objective range of 3- 6 percent.

However, he said inflation is expected to breach the lower bound of the objective range in the near term but revert to that in Q2 of year 2020.

“Subdued domestic demand pressures and the modest increase in foreign prices contribute to the positive inflation outlook in the medium term. This good outlook is subject to upside risks emanating from the potential rise in administered prices and government levies and taxes, beyond the current forecasts,’’ Pelaelo declared.

The Director of Research and Stability at BOB, Dr Tshokologo Alex Kganetsano, is confident of a turnaround, anticipating that a lot of positivity can still happen before the year end in the mining sector.

He said retaining the bank rate at 4.75% percent will boost more borrowing confidence from the clients, adding that global growth is crucial for Botswana’s economy, as it depends a lot on consumer confidence in developed countries which have the ability to purchase diamonds in bulk.

Tags: BoBGDP
Previous Post

Socca, Sono join BNSC Hall of Fame

Next Post

Saleshando promises to fight for Ngamiland

Related Posts

BSB leads Africa’s banking revolution 
Business

BSB leads Africa’s banking revolution 

September 9, 2025
RMB hosts CEOs Roundtable on Renewable Energy
Business

RMB hosts CEOs Roundtable on Renewable Energy

September 4, 2025
BIHL withstands tough times
Business

BIHL withstands tough times

September 4, 2025
Botswana\’s Top 100 CEOs unveiled
Business

Botswana\’s Top 100 CEOs unveiled

August 29, 2025
Betway fixingwithdrawal glitches
Business

Betway fixingwithdrawal glitches

August 29, 2025
Bold pitch for BETP
Business

Bold pitch for BETP

August 27, 2025
Next Post
Saleshando promises to fight for Ngamiland

Saleshando promises to fight for Ngamiland

Please login to join discussion
  • Debswana completes refurbishment of Camphill Trust projectSeptember 11, 2025
    The Orchard Restaurant reopens   GORATAONE KGOSIMORE RelatedPosts Debswana completes refurbishment of Camphill Trust project KHAMA IV INITIATIVES SPARK TRIBAL TENSIONS BSB leads Africa’s banking revolution  editors@thepatriot.co.bw   Debswana through itsCorporate Social Investment (CSI) Programmelast year funded the Camphill… Read more: Debswana completes refurbishment of Camphill Trust project
  • KHAMA IV INITIATIVES SPARK TRIBAL TENSIONSSeptember 11, 2025
    Nkange MP dismisses Bangwato authority in Tutume To bring motion to repeal of Tribal Territories Act ‘It’s not asserting control but promotion of arts, sports’- Khama IV KITSO RAMONO editors@thepatriot.co.bw RelatedPosts Debswana completes refurbishment of Camphill Trust project KHAMA… Read more: KHAMA IV INITIATIVES SPARK TRIBAL TENSIONS
  • BARODSA VACANCY – Managing Directorcum Chief Executive OfficerSeptember 10, 2025
    RelatedPosts BARODSA VACANCY – Managing Directorcum Chief Executive Officer GREAT PLAINS- VACANCY CHOPPIES VACANCY – CHIEF OPERATIONS OFFICER (COO)
  • GREAT PLAINS- VACANCYSeptember 10, 2025
    RelatedPosts BARODSA VACANCY – Managing Directorcum Chief Executive Officer GREAT PLAINS- VACANCY CHOPPIES VACANCY – CHIEF OPERATIONS OFFICER (COO)
  • CHOPPIES VACANCY – CHIEF OPERATIONS OFFICER (COO)September 9, 2025
    RelatedPosts BARODSA VACANCY – Managing Directorcum Chief Executive Officer GREAT PLAINS- VACANCY CHOPPIES VACANCY – CHIEF OPERATIONS OFFICER (COO)
The Patriot On Sunday

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

Navigate Site

  • About Us
  • Advertise
  • Disclaimer
  • Contact Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?