Namibia's economy remains weak and is expected to recover moderately over the next two years. The Bank of Namibia (BoN) says in its December 2020 forecast report that the domestic economy is projected to recover by 2,6% next year. BoN further predicted a domestic economy recovery of 3,2% in 2022. Its forecast for sectors devastated by COVID-19 induced travel restrictions and weakening global markets remains unchanged. BoN's report expects hotels and restaurants, mines, transport and storage, manufacturing, wholesale and retail trade, and construction to make mild recoveries. It foresees an easing of lock-downs of world economies following the development of several effective vaccines. The bank says demand for export minerals will pick up next year as major economies make full recoveries. But growth in agriculture, forestry and fishing is expected to reduce in 2021, with imminent risks posed by locusts, which may negatively affect crop production. The estimated contraction of 7,3% for this year is less severe. BoN's outlook published four-months ago predicted a 7,8% contraction of the economy.