Primacy Of The Primary Sector

July 2008 | Economic Analysis

A rising import bill as oil and energy remain costly will continue to act a major drag on Namibia's GDP growth over 2008 and 2009, combined with a moderation in domestic demand on the back of aggressive monetary tightening by the Bank of Namibia . Nevertheless, after having grown by 3.8% in 2007, we forecast GDP growth to be slightly higher in 2008, in the region of 4.8%, driven primarily by growth in investment and mining production.

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