BoN expects massive economic contraction

28 April 2020 | Economics

The Bank of Namibia (BoN) expects overall economic growth of -6.9% in 2020, the central bank said this morning.
“Risks to domestic growth are currently dominated by uncertainty regarding the expected duration and final impact of Covid-19 on the economy,” the BoN said in its latest Economic Outlook.
“Risks to domestic growth are dominated by ongoing travel restrictions and causing disruptions to supply. Other risks to domestic growth and outlook include the volatile and persistently low international prices of some of Namibia’s export commodities,” the BoN added.

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