Finance and Public Enterprises Minister Iipumbu Shiimi says the projected economic recovery is not expected to address pervasive and entrenched national challenges.

Tabling the national budget, Shiimi said it is therefore urgent that Namibia's economy be diversified.

With the domestic economic outlook having improved significantly, gross domestic product growth was estimated at 5.6% in 2023, before moderating to 4% in 2024 and 3.9% in 2025.

Namibia's economy is reported to have recovered in 2023 and will see a strong rebound in mineral production.

This was revealed by the International Monetary Fund at a media briefing on its mission conclusion for Namibia.

The IMF conducted discussions for the 2023 Article IV consultation in the country, which commenced on the 18th of September and ended on the 2nd of October.

IMF Mission Chief for Namibia, Jaroslaw Wieczorek, said that Namibia is on the back of sustainable mining growth and a recovery in tourism, and its GDP grew by 4.6 percent in 2022.

Tourism in Erongo is showing signs of positive recovery, with most hotel establishments reaching an occupancy rate of 59,36 in the fourth quarter of last year, compared to 50,1 percent in 2019.
 
This was highlighted by Governor Neville Andre during the Erongo Tourism Forums media briefing with stakeholders.   

The region's tourism sector is well on its way to recovery after it was severely hit by the COVID-19 pandemic.

Former President Hifikepunye Pohamba says he is recovering well after he underwent a scheduled surgical procedure at Ongwediva in June this year.