Bank of Namibia Forecasts Economic Growth of 3.1% for this year

The Bank of Namibia’s August 2024 Economic Outlook predicts a 3.1% growth for Namibia’s economy ifor this year, with a slight increase to 3.9% in 2025. Global growth is expected to be 3.2%, rising marginally to 3.3% in next year. While the 2024 forecast remains unchanged, the 2025 projection has been adjusted upward by 0.1 percentage points due to revised growth estimates for China. Josefina Oskar, the Bank’s Communications Practitioner, provided this update.