Friday, October 22, 2021

Namibia to commence economic recovery plan 2021

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Namibia is expected to launch a recovery plan by February 2021, aimed at reviving the economy that is struggling from effects of Coronavirus, COVID-19, President Hage Geingob, said  on Tuesday.

Speaking at the last decision making cabinet of the year, Geingob said it was crucial for the country to revive the economy.

“We must revive the economy. We must create jobs for our young people in the critical sectors.

“These include the present day green and blue economies. We must deliver better services to our people. These are vital undertakings,’’ he said.

Geingob said a safe and peaceful environment is central to the country’s development and survival.

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“Our success depends on our ability to work harder and smarter in unison and not in silos. Peace, stability and rule of law are condition sine qua non for development to take place,’’ he said.

According to the Bank of Namibia, the country’s domestic economy is estimated to contract by 7.8 per cent this year compared to a lesser contraction of 1.1 per cent in 2019.


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