Namibia: Economic Recovery Plan Expected to Be Launched Next Year

Namibia will next year February launch a recovery plan aimed to revive the economy that is struggling from the effects of Covid-19, an official said Tuesday.

Speaking at the last decision making cabinet of the year, the President HE Dr Hage 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, which include the present-day Green and Blue Economies. We must deliver better services to our people. These are vital undertakings," he said.

He said, a safe and peaceful environment is central to the country's development and survival.

"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 exonomy is estimated to contract by 7.8 % in 2020 compared to a lesser contraction of 1.1% in 2019. (Xinhua)

More From: Namibia Economist

Don't Miss

AllAfrica publishes around 600 reports a day from more than 130 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.