Recession to hit even harder

27 August 2019 | Economics

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%.

Similar News

 

RFA spend massive amounts

1 day - 06 August 2020 | Economics

The Road Fund Administration (RFA) has over the past five-years allocated N$ 177.2 million to the City of Windhoek towards road maintenance and traffic law...

Defenceless

2 days ago - 05 August 2020 | Economics

Jo-Maré Duddy - A mere N$10 million versus N$170 million.These two figures in the development budget for 2020/21 in many’s opinion will summarise government’s skewed...

EU provides support to Zimbabwe

2 days ago - 05 August 2020 | Economics

The European Union (EU) announced that it had further increased its support towards the most vulnerable in Zimbabwe by providing an additional 14.2 million euros...

Zim street vendors hit by virus clampdown

2 days ago - 05 August 2020 | Economics

Tonderayi Mukeredzi - Martha Kahari was already struggling to make ends meet after Zimbabwe's coronavirus lockdown forced her to stop selling second-hand clothes and tomatoes...

Assessing the pandemic impact

3 days ago - 04 August 2020 | Economics

The Namibia Statistics Agency (NSA) has embarked on its second-round survey to determine the effects Covid-19 has had on businesses in key economic sectors across...

Kunene commits on service delivery

4 days ago - 03 August 2020 | Economics

The most fundamental reason for the existence of any government is to ensure the provision of housing and land to its people.This was said by...

Kunene commits on service delivery

4 days ago - 03 August 2020 | Economics

The most fundamental reason for the existence of any government is to ensure the provision of housing and land to its people.This was said by...

Residents demand speed humps

1 week ago - 31 July 2020 | Economics

A concerned group of young residents at Rundu called for the erection of speed humps along the Maria Mwengere road, especially in front of a...

Kunene regional budget increases

1 week ago - 31 July 2020 | Economics

The Kunene regional health department reported that the novel coronavirus has instilled fear in the community and also increased the regional budget expenses.Kunene governor, Marius...

CoW complied with requirements

1 week ago - 30 July 2020 | Economics

The City of Windhoek complied with all requirements to be granted a Telecommunications Service Licence, Communications Regulatory Authority (CRAN) board chairperson Mihe Gaomab said.Gaomab in...

Latest News

Border bribery syndicate exposed

2 hours ago | Crime

OGONE TLHAGE WINDHOEK Namibian authorities have widened their investigation into the case of Immanuel David, who allegedly paid bribes to various individuals so...

Shame on Namibian football ‘gods’

2 hours ago | Opinion

Like the body of a disgraced African dictator awaiting official communication on what is to be done with it, Namibian football has been lying in...

Fishrot's De Klerk washes dirty...

2 hours ago | Justice

RONELLE RADEMEYER WINDHOEK Marén de Klerk, the lawyer who left Namibia amid allegations that millions of dollars from the Fishrot bribery scandal had passed...

She’s got style

2 hours ago | Art and Entertainment

MICHAEL KAYUNDE WINDHOEK Launched in 2018, stylist Yverischka Ivertor Bok is happy with the pace at which her brand,...

10th NAMAs go virtual

2 hours ago | Art and Entertainment

STAFF REPORTER WINDHOEK The Namibian Annual Music Awards executive committee recently announced that the 10th NAMAs will be delivered online. The event will...

Keeping it real

2 hours ago | Art and Entertainment

Awards season is finally in full swing, and this is testament to the stories carried in this edition.After being in suspense for a few months,...

Boy accused of murder granted...

2 hours ago | Justice

NAMPAGOBABISA 14-year-old boy who allegedly stabbed an 18-year-old to death at the Kanaan A informal settlement in Gobabis this past Saturday has been granted bail...

Pangolin traffickers nabbed

2 hours ago | Crime

ELLANIE SMITWINDHOEKIn the first cooperation between US law enforcement and the Namibian police, four suspected pangolin traffickers were recently arrested in Namibia.According to a statement...

Germany should fund Namibia's land...

2 hours ago | Columns

Henning Melber Nearly 30 years after starting land reform, Namibia's distribution of land ownership is still skewed. This is a colonial legacy. It is high...

Load More