Week7 - Junying Ye

After the independence of the British territory in 1966, Botswana implemented a full market economy policy. Low taxes, restrictions on welfare, reducing government restrictions on the economy, balancing the budget, creating a variety of facilities to attract foreign investment. The traditional foundation reported that in neighboring Botswana (South Africa, Namibia is on the left, the right side is Zimbabwe, northern Zambia) and across the continent into poverty and corruption, this free economy in emerging countries is booming economy and healthy development. Over the past thirty years, Botswana has became one of the fastest growing economies not only on the African continent, but also in the world. In Gaborone, the capital of Botswana, the new building of foreign direct investment and the emerging everywhere visible. Foreign tourists come in great numbers. When Botswana was independent in 1966, its per capita income was only $70, the third poorest country in the world at that time. And now the per capita GDP in Botswana is more than $7000. As early as 2004, Botswana was evaluated by the authority of Moody as A level of credit, and became the country with the lowest credit risk in Africa. In 2013, Botswana was listed as "the most incorrupt country in Africa" by "international transparency organization", ranking thirtieth in the world, much higher than in many European and Asian countries.

Source: “Botswana.” Botswana Economy: Population, GDP, Inflation, Business, Trade, FDI, Corruption, www.heritage.org/index/country/botswana.