Changes

==Economy==

==Economy==

Since independence, Botswana has had the fastest growth in per capita income in the world. Economic growth averaged over 9% per year from 1967-97. The government has maintained a sound fiscal policy, despite three consecutive budget deficits in 2002-2004, and a negligible level of foreign debt. Foreign exchange reserves were $5 billion at the end of December 2005, equivalent to 22 months of imports of goods and services. Botswana's impressive economic record has been built on the foundation of wisely using revenue generated from diamond mining to fuel economic development through prudent fiscal policies and a cautious foreign policy. However, economic development spending was cut by 10% in 2002/2003 as a result of recurring budget deficits and rising expenditure on healthcare services. While development spending was budgeted to increase by 12.3% in the 2005/2006 fiscal year, the bulk of the money was to be spent on ongoing projects and maintenance rather than new infrastructure. Real GDP growth was expected to slow in 2005 to between 3% and 4% from its 5.7% growth rate in 2004. The government recognizes that HIV/AIDS will continue to affect the economy and is providing leadership and programs to combat the epidemic, including free anti-retroviral treatment and a nationwide Prevention of Mother-to-Child Transmission program.  

Since independence, Botswana has had the fastest growth in per capita income in the world. Economic growth averaged over 9% per year from 1967 to 1997. The government has maintained a sound fiscal policy, despite three consecutive budget deficits in 2002–2004, and a negligible level of foreign debt. Foreign exchange reserves were $5 billion at the end of December 2005, equivalent to 22 months of imports of goods and services. Botswana's impressive economic record has been built on the foundation of wisely using revenue generated from diamond mining to fuel economic development through prudent fiscal policies and a cautious foreign policy. However, economic development spending was cut by 10% in 2002/2003 as a result of recurring budget deficits and rising expenditure on healthcare services. While development spending was budgeted to increase by 12.3% in the 2005/2006 fiscal year, the bulk of the money was to be spent on ongoing projects and maintenance rather than new infrastructure. Real GDP growth was expected to slow in 2005 to between 3% and 4% from its 5.7% growth rate in 2004. The government recognizes that HIV/AIDS will continue to affect the economy and is providing leadership and programs to combat the epidemic, including free anti-retroviral treatment and a nationwide Prevention of Mother-to-Child Transmission program.  

*Nominal GDP (2008): $14.025 billion.

*Nominal GDP (2008): $14.025 billion.

*Real GDP growth rate: 3.5%.

*Real GDP growth rate: 3.5%.