Namibia’s GDP contracted in 2017, 1.2 percent growth expected for 2018


    Namibia’s economy contracted in 2017 by 0.4 percent but is expected to recover and expand by 1.2 percent in 2018 and by double that the year after as a return of government spending boots activity, the finance minister said on Wednesday.

    The small southern African nation’s budget deficit will decrease to 4.5 percent of GDP in 2018/19 from 5.8 percent in the previous year, Finance Minister Calle Schlettwein in a budget speech delivered before parliament.



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