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highest share <strong>of</strong> <strong>the</strong> m<strong>in</strong><strong>in</strong>g sector to GDP was 52,6 percent <strong>in</strong> 1983/84, but its<br />

contribution to GDP by 2000/01 had decreased to 36,5 percent. O<strong>the</strong>r sectors such<br />

as Government, F<strong>in</strong>ance and Bus<strong>in</strong>ess services and Trade have made a substantial<br />

contribution to <strong>the</strong> economy dur<strong>in</strong>g this period (Republic <strong>of</strong> Botswana National<br />

Development Plan 9,2003).<br />

Botswana's key to susta<strong>in</strong>able development centres on global competitiveness and<br />

economic diversification, as every country, <strong>in</strong>clud<strong>in</strong>g Botswana, faces great<br />

challenges from <strong>in</strong>creas<strong>in</strong>g globalisation, which requires domestic economic policies<br />

and strategies to be responsive to global challenges. Botswana's economy is an<br />

open one with a high trade-to-GDP rate which is closely <strong>in</strong>tertw<strong>in</strong>ed with <strong>the</strong><br />

overarch<strong>in</strong>g global economies (Republic <strong>of</strong> Botswana National Development Plan 9,<br />

2003).<br />

The significance <strong>of</strong> develop<strong>in</strong>g a long-term socio-economic development perspective<br />

for Botswana was recognised <strong>in</strong> 1997, when <strong>the</strong> development <strong>of</strong> "A Long-term Vision<br />

for Botswana: Towards Prosperity for All", or 'Vision 2016' was released (Republic <strong>of</strong><br />

Botswana National Development Plan 9, 2003, p.12). While national development<br />

plans <strong>in</strong> Botswana have always been guided by four national pr<strong>in</strong>ciples <strong>of</strong><br />

Democracy, Development, Self-reliance and Unity, Vision 2016 strives for a<br />

refocus<strong>in</strong>g <strong>of</strong> <strong>the</strong>se pr<strong>in</strong>ciples to embrace change and to relate <strong>the</strong>m to <strong>the</strong> country's<br />

development challenges. Accord<strong>in</strong>g to <strong>the</strong> Vision, by <strong>the</strong> Year 2016 Botswana must<br />

have identified goals to be reached, major challenges that must be met, and<br />

opportunities that must be productively exploited to atta<strong>in</strong> <strong>the</strong>se national aspirations<br />

(Republic <strong>of</strong> Botswana National Development Plan 9, 2003).<br />

Vision 2016 set a target <strong>of</strong> trebl<strong>in</strong>g <strong>the</strong> per capita real <strong>in</strong>come <strong>of</strong> Batswana over <strong>the</strong><br />

20 year period from 1996 to 2016. This would require per capita real GDP to grow at<br />

an average annual rate <strong>of</strong> approximately 5,6 percent, and total real GDP to grow at<br />

about 8 percent per annum. Compared to this target, <strong>the</strong> actual average growth rate<br />

<strong>of</strong> total GDP from 1995/96 to 2000/01 has been lower, at approximately 7,0 percent<br />

per year. This, toge<strong>the</strong>r with <strong>the</strong> latest projections, <strong>in</strong>dicates that <strong>the</strong> average growth<br />

rate from 1995/96 to 2008/09 will be around 5,9 percent per annum. With <strong>the</strong><br />

population grow<strong>in</strong>g at an average rate <strong>of</strong> 2,1 percent per year, per capita <strong>in</strong>come will<br />

grow at approximately 3,7 percent per year over this period, as compared to <strong>the</strong> 5,6<br />

125

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