Botswana’s economy, heavily reliant on diamonds, is confronting mounting challenges as a global surplus, depressed prices, and escalating competition from lab-grown alternatives undermine demand and fiscal outlooks. The government has cautioned that the burgeoning diamond inventory may exert considerable pressure on economic growth, public revenues, and overall macroeconomic stability in the foreseeable future. The Ministry of Finance’s 2026/27 Budget Strategy Paper reveals that Botswana’s diamond stockpile reached approximately 12 million carats by the end of...
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