Namibia’s Economy Forecast to Expand 4.4% This Year

(Corrects growth forecasts in first paragraph.)

Namibia’s economy will probably expand 4.4 percent this year after growing 4.2 percent in 2011, Finance Minister Saara Kuugongelwa-Amadhila said.

A slowdown in growth in neighboring South Africa and lower mining output may curb growth this year, she said in a budget speech today in Windhoek, the capital.

The southern African nation’s economy expanded 6.6 percent in 2010, Kuugongelwa-Amadhila said.

To contact the reporter on this story: Chamwe Kaira in Windhoek at ckaira@bloomberg.net

To contact the editor responsible for this story: Gordon Bell at gbell16@bloomberg.net

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