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Botswana

Boko’s team hikes spending but diamond market falters

After lambasting the Masisi government’s fiscal recklessness, new finance chief forecasts 3.3% growth

Faced with a weak diamond market but high voter expectations, the new Umbrella for Democratic Change (UDC) government disregarded business advice and its own economic strategy in its first budget on 10 March. The result is a budget deficit of 22 billion pula (US$ 1.6bn), or 7.56% of GDP.

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