Recession to hit even harder

Namibia is likely to spend its third consecutive year in recession in 2019, with the economic contraction worse than the previous two years.
In its latest Economic Outlook released this afternoon, the Bank of Namibia (BoN) forecasts growth of -1.7% for 2019. Last year, the contraction was -0.1% and in 2017 it was -0.9%.
In April this year, the central bank still expected Namibia to exit the recession. Its growth forecast at the time was 0.3%.