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Botswana economy grows 7.2%

Botswana's economy grew by 7,2 per cent in 2010 after shrinking 4,9 per cent the year before, data from the Central Statistics Office showed.

"The main drivers to the increase was mining, trade hotels and restaurants and the contractors in the construction industry," the statistics agency said on its website.

The Bank of Botswana last month left its bank rate unchanged at 9,5 per cent, saying the domestic and external economic outlook, as well as the inflation forecast, suggested maintaining the prevailing level was consistent with bringing inflation into a three to six per cent target band.

The statistics office said earlier this month inflation in the world's largest diamond producer quickened to 8,5 per cent year-on-year in February from 7,9 per cent in January. Diamonds account for about 40 per cent of the southern African country's GDP.

By Africainvestor



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