GABORONE, Sept. 18 (Xinhua) -- Botswana's finance minister says the local economy will prioritize investment directed towards economic diversification.
Speaking at the annual budget strategy paper discussion on Tuesday in Gaborone, capital of Botswana, Minister Kenneth Matambo said emphasis will be on business reforms, infrastructure development and human capital development to spur diversification.
"These are deliberate strategic initiatives by government to try fostering a shift from the current growth model towards a more inclusive one that is private sector led," said Matambo.
The minister also expects positive growth rates for 2018, 2019 driven largely by the non-mining sectors.
"This underscores the importance of the private sector in leading future domestic economic growth and their active participation in defining a new growth model," said Matambo.
He challenged academics, development partners, civil societies and parastatals to participate in moving forward the 'seemingly stagnant annual growth rate'.
Statistics Botswana and the Ministry of Finance and Economic Development data indicates GDP growth is expected to grow 4.5 percent in 2018 and 4.2 percent in 2019. Enditem
