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Namibia Economic Outlook 2021: Mid-Year Review

Namibia Economic Outlook 2021: Mid-Year Review

We have revised our growth forecast for ’21 down from 3.8% to 2.1%. The revision is largely driven by lower than anticipated diamond output for ’21, as well as slow vaccine rollout and reimposition of some lockdown measures – with added uncertainty for the remainder of the year. Stronger mining output, aided by Debmarine Namibia’s new mining vessel for early ’22, is expected to result in stronger growth of 3.2% in ’22.

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