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End of SA recession is good news for Nam

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08 Sep 2017

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The Namibian - Business | 2017-09-07 by Ndama Nakashole

THE FACT that South Africa is no longer in recession after the economy grew in the last quarter is good news for Namibia, economic analysts say.

This week's data shows that although South Africa still faces big economic challenges, the country is no longer in recession after recording a 2,5% growth figure.

The economic boost in South Africa can be put down to a big rise in agricultural output of 33% but overall, its economy still continues to struggle with unemployment remaining stubbornly high at nearly 28%.

Reacting to the news from Namibia's biggest trading partner, the Economic Association of Namibia yesterday told The Namibian that South Africa's strong economic performance will increase the demand for Namibian exports including beverages and food products, as well as tourism.

 

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