The domestic economy is expected to expand by 3.7% in 2024 and is forecast to further grow by 4.1% in 2025, indicating a positive trajectory for the country's economic landscape.

This projection was given in the Bank of Namibia's (BoN) Economic Outlook update for March 2024, shedding light on the nation's economic prospects.

On a global scale, the economic outlook remains tepid for 2024, with a slight improvement anticipated in 2025. This projection, the central bank says, is influenced by factors such as elevated central bank policy rates to combat inflation.