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Domestic economy projected to expand by 3,9 %

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The domestic economy is projected to expand by 3.9% in 2023, followed by a moderation to 3.4% in 2024. 

This is contained in the latest economic outlook released by the Bank of Namibia (BoN).

The central bank's latest forecast reflects a downward revision of 0.2% compared to the previous update.

Repo rate remains unchanged

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The Monetary Policy Committee of the Bank of Namibia has again decided to keep its repo rate unchanged at 7.5%.

The Bank of Namibia says the decision follows a comprehensive review of global, regional, and domestic economic developments.

Justice Minister tables draft law on housing repossession

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Justice Minister Yvonne Dausab tabled the High Court Amendment Bill and the Magistrate's Court Amendment Bill in the National Assembly, which will give equal rights to litigants in house or immovable property repossession cases.

Central Bank to make its monetary policy announcement

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The Central Bank will make its monetary policy announcement on Wednesday.

The ultimate objective of monetary policy in Namibia is to see if it is necessary to either raise or decrease the repo rate.

The repo rate is the premium the Bank of Namibia charges banks for money it advances.