Since independence, Botswana has had the highest average economic growth rate in the world, averaging about 5% per annum over the past decade.  Growth in private sector employment has averaged about 10% per annum over the first 30 years of independence. At the start of the 21st century, however, the economy of Botswana stagnated until the early 2010s, when it registered for the first time since the economic boom, a GDP growth above the 6-7% target. Botswana is also commended by the African Development Bank for the location of Africa's longest, and among the world's longest economic booms(which almost surpassed that in Asia's largest economies). The relatively high quality of the country's statistics means that these figures are likely to be quite accurate. The government has consistently maintained budget surpluses and has extensive foreign exchange reserves.
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