Namibia’s central bank slashes economic growth forecast

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The Bank of Namibia has dropped its predicted GDP growth for 2019 to just 0.3%, it said on April 15. The central bank had said in December 2018 it was expecting GDP growth of 1.5% this year.

While the predicted growth figure is small, it would still represent an economic recovery for Namibia. The southern African economy’s GDP has contracted over the past two years, at –0.1% in 2018 and –0.9% in 2017.

The bank expects the growth rebound during 2019 to be fuelled by improvements in the

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