(Ecofin Agency) - Namibia’s economy should rise out of recession and reach 1%, the country’s minister of finance Calle Schlettwein (photo) indicated on March 27, 2019.

Presenting the state budget to the parliament yesterday, the official also revealed that the budget deficit is expected to be NAD96.3 billion, equivalent to 4.1% of GDP against 4.4% the previous fiscal year.

Let’s note that in the past two fiscal years (2017 and 2018), Namibia’s GDP contracted due notably to poor performances in the industry and construction sectors.