Fuel Economy
Fuel Economy

Namibia’s domestic economy is expected to contract by 0.2 percent in 2018, the Bank of Namibia (BoN) said Friday.

The central bank said the estimated contraction in 2018 is based on weak year-to-date performances in sectors such as wholesale and retail trade, real estate and business services, hotels and restaurants, government sectors and taxes on products.

Kazembire Zemburuka, BoN Deputy Director of Corporate Communications, said that Real Gross Domestic Product is expected to contract by 0.2 percent in 2018, from a deeper contraction of 0.9 percent recorded in 2017.

Zemburuka said risks of domestic growth include a weak recovery in the country’s trading partners and slow recovery in international commodity prices, particularly for uranium. Enditem

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