SA recession bad news for Namibia

Namibia’s economic development plans are in serious jeopardy after the South African economy slipped into a recession, Managing Director of Twilight Capital Consulting, Mally Likukela, has warned.

Namibia in recession – analysts

Local economists say that Namibia has been in recession since the third quarter of last year, as confirmed by the release of the 2016 preliminary national accounts this week, which show that the domestic economy recorded a marginal growth of 0,2 percent last year, compared to 6,1 percent in 2015. The statistics released by the Namibia Statistics Agency (NSA), showed that the drop in growth was led by a 10,4 percent contraction in secondary industries and a -2,4 percent growth in primary industries, which implied that the recession intensified over the last quarter of 2016.

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The Windhoek Observer is an English-language weekly newspaper, published in Namibia by Paragon Investment Holding. It is the country's oldest and largest circulating weekly.

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