Namibia Begins Economic Recovery Plan In 2021

Namibia warns against second wave of covid 19
Namibia’s President Hage Geingob arrives for the inauguration of Cyril Ramaphosa as South African president, at Loftus Versfeld stadium in Pretoria, South Africa May 25, 2019. REUTERS/Siphiwe Sibeko – RC1FF8037B40

Namibian President Hage Geingob on Tuesday said his government will present an economic recovery plan by February 2021.

He said the plan is aimed at reviving the Namibian economy that is struggling from the effects of (COVID-19).

Geingob said at the last decision-making cabinet of the year that it was crucial for the country to revive the economy.

“We must revive the economy. We must create jobs for our young people in the critical sectors.

“These include the present-day green and blue economies. We must deliver better services to our people. These are vital undertakings,” he said.

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The President pointed out that a safe and peaceful environment is central to the country’s development and survival.

“Our success depends on our ability to work harder and smarter in unison and not in silos. Peace, stability and rule of law are condition sine qua non for development to take place,” he said.

According to the Bank of Namibia, the country’s domestic economy is estimated to contract by 7.8 per cent this year compared to a lesser contraction of 1.1 per cent in 2019

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