Namibia expects first economic growth in 3 years

Namibia’s central bank expects the domestic economy to grow in 2019 for the first time in three years, Ebson Uanguta, Deputy Governor, Bank of Namibia, said on Wednesday.
Uanguta told reporters in Windhoek that the growth would be led by transport and construction, which were expected to rebound after three years of contraction.
“2019 will register positive growth for the first time in three years, but we will not get back to the level of growth that we have seen before,” Uanguta said.
He said construction growth would be driven by government public works in the coming financial year, including the renovation of schools. The fiscal year runs from April to March.
Namibia’s GDP growth has averaged 4.29 per cent since independence in 1990.