By: Staff Writer
The Bank of Namibia projects that the economy will decelerate to 3.7% in 2024 before rebounding to 4.1% in 2025.
The central bank attributes this anticipated slowdown primarily to weaker global demand and slower growth in primary industries, such as mining.
However, GDP growth is expected to see a marginal improvement in 2025, mainly due to increased activities within the agriculture and mining sectors.
“The latest projections for 2024 and 2025, reflect an upward revision of 0.3 and 1.0 percentage points from similar projections published in the December 2023 Economic Outlook update,” BON’s researchers noted.
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