President Hage Geingob says the Namibian economy is well on the path to recovery. Addressing a packed media conference at State House Monday morning President Geingob said the Namibian economy is in a much better state than what is being projected. Geingob said good rains resulted in a recovery in the agriculture sector with a bumper harvest expected in the crop production sector. In the livestock sector, marked improvement in prices has also been observed. He pointed out that inflation had reached an all-time low of 6,1% in June while food inflation also saw a decrease. The president said increases in credit extensions the approval of building plans and the rise in car sales on a monthly basis show a modest recovery.