2016 GDP growth estimated at 3.7 percent: IMF

12:02 - 19 March 2016

A worker is seen at a construction site in Gaborone, Botswana, November 23, 2015. REUTERS/Siphiwe Sibeko

"GDP growth is estimated to have turned slightly negative in 2015 owing to a decline in the global demand for diamonds and copper," the IMF said in a statement

Botswana's economy is projected to grow by 3.7 percent this year after an estimated contraction of 0.3 percent in 2015, the International Monetary Fund (IMF) said.

"GDP growth is estimated to have turned slightly negative in 2015 owing to a decline in the global demand for diamonds and copper," the IMF said in a statement late on Thursday.

"A gradual economic recovery is projected in the next three years, based on an expected gradual increase in diamond prices and fiscal stimulus."