Menu Click here
website logo
Sign In| Sign Up
back back
Diamond trading
Search for Diamonds Manage Listings IDEX Onsite
diamond prices
Real Time Prices Diamond Index Price Report
news & research
Newsroom IDEX Research Memo Search News & Archives RSS Feeds
back back
Diamond trading
Search for Diamonds Manage Listings IDEX Onsite
diamond prices
Real Time Prices Diamond Index Price Report
news & research
Newsroom IDEX Research Memo Search News & Archives RSS Feeds
back back
MY IDEX
My Bids & Asks My Purchases My Sales Manage Listings IDEX Onsite Company Information Branches Information Personal Information
Logout
Newsroom Full Article

Falling Rough Diamond Demand and Prices Hinders Botswana Development

February 02, 16 by David Brummer

(IDEX Online News) – Botswana’s Finance and Development Planning Minister, the Honorable O.K. Matambo said that depressed rough diamond and prices had weakened the country’s domestic economic prospects.

 

Delivering the Botswana’s budget yesterday (Monday) Matambo outlined that falling global commodities prices, including a diminishing market for the country’s diamonds, was threatening domestic growth prospects.

 

The slowdown in diamond sales impacted Botswana’s economy, which declined 3.5 percent in the third quarter of 2015, with the growth estimate for 2015 being revised down from 2.6 percent to 1 percent. The growth rate in 2014 was 3.2 percent.

 

With regard to the balance of payments and foreign exchange reserves, exports of goods and services decreased 18.6 percent in 2015, with weak global demand for rough diamonds being a key factor.

 

Matambo said that according to the government the medium-term fiscal outlook was a cause for concern, particularly as prices and demand for rough diamonds remain depressed.

Diamond Index
Related Articles

Zimbabwe Turns to Botswana to Learn How to Increase Value from Diamonds

June 22, 15 by Danielle Max

Read More...

Botswana Diamonds Receives New Orapa Prospecting Licence

October 11, 15 by Danielle Max

Read More...

Lucara to Give Botswanans Opportunity to Name 1,111 Carat Diamond

January 19, 16 by David Brummer

Read More...

Newsletter

The Newsletter offers a quick summary of the past week's industry news and full articles.
Our Services About IDEX Privacy & Security Terms & Conditions Sign-Up Advertise on IDEX Industry Links Contact Us
IDEX on Facebook IDEX on LinkedIn IDEX on Twitter