Managing Director of Simonis Storm Securities, Bruce Hansen, told Future Media News that the economic outlook for Namibia is not ideal, as credit extended to businesses in the private sector reached an all time low in July 2020 and likewise the rate of mortgage bonds extended to the entities. As far as Government debt is concerned, he explained that this has reached an all time high growing at an unsustainable rate with a forecasted debt to Gross Domestic Product ratio in 2023 of about 80%. However, amidst all this, he remains positive that tourism is expected to show an uptick over the next 12 to 24 months with an expected increase of roughly 17 new tourism entities during 2021 and just under 10 expected new entities for 2022.