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Namibia Economic Outlook '22: Mid-Year Review

Namibia Economic Outlook '22: Mid-Year Review

Our growth forecast for ’22 remains largely unchanged at 3.0%, however our growth expectations for ’23 and ’24 have lifted. Growth over this period is to be driven by the primary industries. Notably, diamond output growth is expected to carry GDP growth in ’22 and into ’23, while improved gold and uranium output from ’23 onwards will also contribute. Several economic sectors are showing strong signs of recovery, such as tourism. However, others remain troubled, largely the secondary industries.

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