Aug 16

Finance minister admits Namibia’s economy remains imbalanced

The Finance and Public Enterprises Minister says Namibia should work to achieve broad-based economic growth, which is now fueled by the mining industry. Iipumbu Shiimi says the local economy has experienced excellent growth over the previous two years, but this hasn’t been balanced. Growth during the past two years were 3.5 per cent in 2021 and 4.6 per cent last year. The minister adds that the mining sector is not a big employer of people. Thus, it is contributing to the GDP of the country albeit very concentrated.