Namibia: Economy Expense More Than Expected

Namibia's economy is estimated to have grown by 4,9 per cent last year, better than the 4,2 per cent projected by Finance Minister Saara Kuugongelwa-Amadhila in her Budget speech in March.

Statistician General, John Steytler described the 4,9 per cent, released on Tuesday as part of the Preliminary National Accounts for 2000-2011, as "quite respectable" given the global economic situation. In 2010, Namibia's gross domestic product (GDP) grew by 6,6 per cent. Steytler said economic growth was driven by the secondary and tertiary industries last year, recording growth of 4,2 per cent and 4,4 per cent respectively.

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