Finance minister Ipumbu Shiimi is projecting Namibia’s economy to grow by 2.9% this year before accelerating further to 3.7% in 2023.
Presenting his 2022/23 Budget Statement in Parliament on Thursday Shiimi said this year’s projected growth is anchored by expectations of strong output mainly in the primary and secondary industries, while growth in tertiary industries is estimated to remain muted over the Medium Term Expenditure Framework.
Shiimi, however, revised downwards last year’s economic growth to 1.2% from the 1.9% growth estimated in his Mid-Year Budget Review.
