The Namibia Press Agency, (NAMPA), was established in 1991 as a national news agency responsible for the distribution of local, regional and international news.

Namibia’s economy to contract by 6.6 per cent: Shiimi

Namibia’s economy to contract by 6.6 per cent: Shiimi

Written by Petrus Muronga on 27 May 2020.

RUNDU, 27 MAY (NAMPA) – Finance Minister, Ipumbu Shiimi, said Namibia’s economy is projected to contract by 6.6 per cent this year and it is expected to linger on in 2021 at a moderate rate of 1.1 per cent.
Shiimi said this when he tabled the 2020/2021 National Budget, totaling N.dollars 72.8 billion, in the National Assembly on Wednesday.
In his opening statement on the domestic macro-fiscal context outlook, he said Namibia is a small and open economy with the external trade of gross domestic product (GDP) ...

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