Economic Success Story
Botswana’s continued growth has been sustained through strong commitment to maintaining macro-economic stability, implementation of economic liberalisation policies, and a concerted effort to diversify the economy.
Government's policies and programmes continue to position Botswana to become a productive and innovative nation - in line with the country's long-term national vision, Vision 2016: 'Towards prosperity for all'.
The 2002 Index of Economic Freedom, released by the United States-based Heritage Foundation, rates Botswana's economy as the freest in Africa. In both 2001 and 2002, international credit rating agencies Moody's and Standard & Poors awarded Botswana the highest investment grade sovereign credit rating in Africa. The country was also rated the least corrupt in Africa, by Transparency International's 2002 corruption perception index, as well as the top country in Africa in terms of good governance, by the World Economic Forum in June 2003.
With a per capita income of about $3 500, Botswana now enjoys Middle Income Country status in the IMF/World Bank ratings.
The United Nations Development Programme's (UNDP) human development index, which measures achievements in terms of longevity, knowledge and a decent standard of living, rated Botswana fourth in Africa during 1998. Huge strides have been made in reducing gender inequalities in education enrolment, employment and politics. However, while Botswana still ranks high in Africa, with adult literacy rising to more than 77 percent, recent UNDP reports indicate that reversals in this development trend have taken place due to HIV/Aids. (UNDP Human Development Indicators 2002). Together with problems of unemployment and poverty, HIV/Aids has strained Government budgets as well as the human resources needed to develop the country. Early in 2002, Botswana became the first African country to offer free Antiretroviral (ARV) therapy to everyone through the public health system.
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Themes