Moody's sees wider budget deficit for Botswana

Botswana's projected 2.6 percent budget deficit for the 2015/16 financial year could turn out to be much wider due to the downturn in the diamond market, credit rating agency, Moody’s said on Thursday. "We see risks for an even more pronounced deficit because of a prolonged downturn in world diamond demand specifically tied to China's economic rebalancing and lower luxury spending," Moody's said. A sustained weakness of the diamond market throughout the year has seen diamond prices softeni