17:56Dec 03, 2021Reuters

Bank of Namibia revises 2021 growth upwards, says central bank

The Bank of Namibia said on Friday it expected the country's economy to grow by 1.5% in 2021, a marginal increase from the 1.4% forecast earlier.

The bank also expects the domestic economy to grow by 3.3% in 2022 compared to a contraction of 8.5% in 2020.

"The projected improvements mainly due to base effects and better growth prospects for the mining industry and most industries in the tertiary sector," the bank said in a statement.