Projects in the mining sector are the drivers of growth

Namibia’s economic growth is forecast to reach 2.6 per cent in 2027. This was stated by Namibia’s Minister of Finance, Erica Shafudah, at a meeting on the mid-term review of the budget for the 2026/2027 financial year, reports New Era, partner of TV BRICS.

According to the minister, Namibia’s economy continues to grow, although the pace remains uneven across different sectors.

“The recovery is anchored by pipeline projects in the mining sector, supported by strong uranium and gold prices and by stronger consumption as inflation and interest rates ease,” said Erica Shafudah.

According to the forecast, Namibia’s economic growth will accelerate to 3 per cent in 2028 and to 3.3 per cent in 2029.

It is noted that Namibia’s economic growth in 2026 was previously forecast at 2.3 per cent. This is 0.8 percentage points lower than the 3.1 per cent figure set out in the main budget but higher than the 1.7 per cent growth recorded in 2025.

African Times published this article in partnership with International Media Network TV BRICS