Another recession year expected in Namibia

05 June 2019 | Economics

Namibia is likely to remain in recession in 2019 – the third consecutive year of negative economic growth, the International Monetary Fund (IMF) says.
The IMF has just completed its yearly Article IV consultations with government.
Finance minister Calle Schlettwein in his budget speech in March forecast positive growth of 1% for 2019.
Die IMF attributes its negative forecast on the drought, as well as lower expected diamond production for this year.