WINDHOEK, Oct 30 (Reuters) – Namibia’s economy is expected to grow 3.6% this year and 5.4% in 2025, its Finance Minister Iipumbu Shiimi said on Wednesday.
In February the finance ministry had estimated growth of 4% in 2024 and 3.9% next year.
“The revisions stem primarily from expected lower output from the mining and agriculture sectors which have been negatively affected by low global demand for diamonds as well as the ongoing drought,” Shiimi told parliament in a mid-year budget review speech.
(Reporting by Nyasha Nyaungwa; Writing by Bhargav Acharya; Editing by Alexander Winning)