Botswana is an upper middle income country with a mixed economy, and it has one of the strongest economies in Africa. The foundation of Botswana's economic policy was set by the first post-independence government in the 1960s, incorporating a self-sustaining budget system through a series of national development plans. There is significant income inequality in Botswana, particularly between the relatively developed urban areas and the poorer rural areas. The unemployment rate in Botswana was 20% as of 2015. Botswana's dependence on the diamond industry has led to diversification of the economy becoming one of the nation's major economic policy goals throughout its history. Government programs such as the National Development Bank, the Botswana Development Corporation, the Financial Assistance Policy, and the Economic Diversification Drive have been implemented to spur economic growth in other industries, but they have not significantly decreased the nation's dependence on its diamond industry.
Botswana is an upper middle income country with a mixed economy, and it has one of the strongest economies in Africa The foundation of Botswana's economic policy was set by the first post-independence government in the 1960s, incorporating a self-sustaining budget system through a series of national development plans. There is significant income inequality in Botswana, particularly between the relatively developed urban areas and the poorer rural areas. The unemployment rate in Botswana was 20% as of 2015. Botswana's dependence on the diamond industry has led to diversification of the economy becoming one of the nation's major economic policy goals throughout its history Government programs such as the National Development Bank, the Botswana Development Corporation, the Financial Assistance Policy, and the Economic Diversification Drive have been implemented to spur economic growth in other industries, but they have not significantly decreased the nation's dependence on its diamond industry