Department of Research

RESEARCH DEPARTMENT

The Research Department serves as the analytical hub of the Ministry of Finance, providing evidence-based research, data, and policy analysis to support sound fiscal and economic decision-making. Our mission is to generate and disseminate timely, accurate, and relevant information that informs policy formulation, enhances transparency, and stimulates public debate on key macroeconomic and financial issues.

Through this platform, we share a range of research outputs, economic data, and knowledge resources designed to meet the needs of policymakers, researchers, development partners, and the general public.

Description of Research Resources

1. Monthly Economic Monitor

A monthly report that tracks and summarizes key macroeconomic variables, offering timely insights into the state of the economy.

  • January 2022 Monthly Economic Monitor – Download
  • February 2023 MEM
  • December 2023 MEM – Download
  • January 2024 MEM
  • December 2024 MEM – Download
  • January 2025
  • September 2025 – Download

Contact: mof-research@gov.bw for previous Monthly Economic Monitors.

2. Quarterly Economic Bulletin

A comprehensive quarterly publication that analyzes economic performance, highlighting key drivers, risks, and policy implications.

  • QEB 3–QEB 4 2022 – Download
  • QEB 1 2023–QEB 4 2023 – Download
  • QEB 1 2024–QEB 4 2024 – Download
  • QEB 1 2025–to date – Download

Contact: mof-research@gov.bw for previous Quarterly Economic Bulletins.

3. Research Bulletin

An annual online bulletin covering working papers and research activities on macro-fiscal and macro-financial topics, showcasing in-depth analysis to inform stakeholders.

Disclaimer: Research Bulletins compile working papers produced by Ministry of Finance staff. The views expressed are those of the author(s) and do not necessarily represent the official views of the Ministry of Finance, the Government of Botswana, or its partners.

4. Macro-Fiscal Data

Macro-fiscal data includes:

  • Government Revenue Data – Total government revenue (Pula, % of GDP), tax revenue by type, non-tax revenue.
  • Government Expenditure Data – Total expenditure, recurrent expenditure, development/capital expenditure, social spending.
  • Fiscal Balances – Overall balance, primary balance, financing needs.
  • Public Debt Statistics – Domestic and external debt stock, debt-to-GDP ratio, debt service costs.
  • Macroeconomic Variables for Fiscal Analysis – Real GDP growth, inflation, exchange rates, interest rates.
  • Fiscal Risks & Contingent Liabilities – Guarantees to SOEs, pension liabilities, arrears data.

Disclaimer: The data provided in the Macro-Fiscal Data Portal is for information and analytical purposes only. While every effort is made to ensure accuracy, the Ministry of Finance does not assume responsibility for decisions made based on the data.

Features:
Select Time Period & Frequency via drop-downs (year, quarter, or month).
Download or export data in PDF reports (for tables/charts) or copy directly to clipboard for quick use.

5. Research Notes

Kindly download the research notes from the old ministry website under research link. The notes include:

  • Assessing Financial Market Risks due to the impact of the Russian war – Research Notes – Download
  • Estimates of Total Factor Productivity – Research Notes – Download
  • Kazungula operations – Research Notes – Download
  • Rising Trends in the share of government value added – Research Notes – Download
  • Time series estimates of Botswana – Research Notes – Download
  • Trends in Value Added Tax Collection Efficiency – Research Notes – Download

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