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Wed, 07 Mar 2018 15:52 - Updated Wed, 07 Mar 2018 15:52

Namibia's GDP contracted in 2017, 1.2 percent growth expected for 2018

WINDHOEK - Namibia’s economy contracted in 2017 by 0.4 percent but is expected to recover and expand by 1.2 percent in 2018 and by double that the year after as a return of government spending boots activity, the finance minister said on Wednesday.

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The small southern African nation’s budget deficit will decrease to 4.5 percent of GDP in 2018/19 from 5.8 percent in the previous year, Finance Minister Calle Schlettwein in a budget speech delivered before parliament. Reuters

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