March 29, 2019 / 3:46 PM / 4 months ago

Botswana's economy grows at faster pace in fourth quarter of 2018

March 29 (Reuters) - Botswana’s economy grew at a faster pace of 3 percent in the fourth quarter of 2018 after slowing 0.3 percent in the third quarter, data from the statistics office showed on Friday.

On a year-on-year basis, gross domestic product (GDP) grew 4.1 percent in the fourth quarter after expanding by 6.4 percent in the same period in 2017.

Statistics Botswana said mining, transport & communications and finance & business services were the major contributors.

Botswana’s economy is expected to expand at a slower pace in this year compared with 2018, Finance Minister Kenneth Matambo said last month.

Reporting by Noor Zainab Hussain in Bengaluru; Editing by James Emmanuel

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