Namibia’s economy expected to grow by around 3 pct in 2022:central bank
WINDHOEK, June 15– Namibia’s economy is expected to grow by around 3 percent this year, the central bank said Wednesday. According to the Bank of Namibia governor Johannes Gawaxab, domestic economic activity rebounded in the first four months of 2022 compared to 2021.. Risks to the domestic economic outlook in the medium term continue to be dominated by the…
WINDHOEK, June 15 (Xinhua) — Namibia’s economy is expected to grow by around 3 percent this year, the central bank said Wednesday.
According to the Bank of Namibia (BoN) governor Johannes Gawaxab, domestic economic activity rebounded in the first four months of 2022 compared to 2021.
“The recovery was mainly driven by increased activity in the mining, agriculture, transport, tourism, wholesale and retail trade, as well as communication sectors,” he added.
The positive performance was offset by a continued decline in construction activity over the same period, as both public and private construction work slackened further, said Gawaxab.
Risks to the domestic economic outlook in the medium term continue to be dominated by the Russia-Ukraine crisis, climatic swings, global supply chain disruptions, higher oil and food prices, and the possible emergence of new COVID-19 variants, coupled with national vaccine hesitancy, he said.
Gawaxab said that overall inflation is projected to average around 5.9 percent for 2022, from the 6 percent projected before. Enditem
ANA NEWS WIRE Disclaimer:
The African News Agency (ANA) is a news wire service and therefore subscribes to the highest standards of journalism as it relates to accuracy, fairness and impartiality.
ANA strives to provide accurate, well sourced and reliable information across Text, Images and Video. Where errors do appear, ANA will seek to correct these timeously and transparently.
The ANA platform also contains news and information from third party sources. ANA has sought to procure reliable content from trusted news sources but cannot be held responsible for the accuracy and opinions provided by such sources on the ANA platform or linked sites.
The content provided for on the ANA News Wire platform, both through the ANA news operation and via its third party sources, are for the sole use of authorised subscribers and partners. Unauthorised access to and usage of ANA content will be subject to legal steps. ANA reserves its rights in this regard.
ANA makes every effort to ensure that the website is up and running smoothly at all times, however ANA does not take responsibility for, and will not be held liable for times when the website is temporarily unavailable due to technical issues that are beyond our control.