BoN expects smaller contraction in 2020
Jo-Maré Duddy – The Namibian economy remains set for a record contraction in 2020, despite the Bank of Namibia (BoN) now expecting a slightly better performance than it did in August.
The central bank expects the economy to grow by -7.3% this year, compared to its forecast of -7.8% in August.
In the BoN’s updated economic outlook, released today, the central bank expects significantly smaller contractions for agriculture and mining compared to August.
However, the BoN lowered its growth forecast for the secondary and tertiary sectors.
Read the full report tomorrow in Market Watch.
The central bank expects the economy to grow by -7.3% this year, compared to its forecast of -7.8% in August.
In the BoN’s updated economic outlook, released today, the central bank expects significantly smaller contractions for agriculture and mining compared to August.
However, the BoN lowered its growth forecast for the secondary and tertiary sectors.
Read the full report tomorrow in Market Watch.
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