Problems of Low Economic Growth, Economic Diversification
The nation is informed about national progress every year via the budget speech, which addresses several issues of great national concern, mostly economic issues. The budget speech is also a review and a preview of financial issues regard economic growth, central bank reserve policies of local and foreign financial performance of the nation. Economic issues addressed by the budget speech are ere sensitive issues, which relate to one another simply because they are dependent economic variables. If unemployment rates are high that can mean that there will be less contribution of employment towards national revenue through income tax, which will lead to low economic growth.
If there is lack of performance from economic factors like diversification that if there is low diversification there can be low economic growth if the dominant sources of government (mining sector) fail to produce good results. The government is responsible to inform the nation on these issues through the budget speech, therefore there is need for analysis to ensure as to whether these sensitive issues have been really addressed or not. In my analysis will focus on problems of low economic growth, economic diversification and unemployment in Botswana. Unemployment is a major concern to the government and it is often given priorities when formulating national policies and strategies.
Problems of Low Economic Growth, Economic Diversification Essay Example
The budget speech has addressed this issue, but failed to prove the effectiveness of the active and proposed employment policies to show that they has been progress. Wide range of policies and programmers, such as the Internship Programmer, Youth Development Fund, LIMIT, Youth Empowerment Scheme, Diamond Hub, Innovation Hub and Economic Diversification Drive, have been established to address issues of unemployment and job creation. Policies like the internship programmer in which graduates are given opportunity to acquire practice in fields of their specialist, really helps to reduce unemployment although the wages given to participants are low.