Namibia's central bank has lowered its economic growth forecasts for this year and next, citing difficulties faced by the agriculture, mining and manufacturing sectors, it said on Monday.
The bank now sees growth of 3.5% in 2025, down from the 3.8% it projected at its last monetary policy meeting in June and last year's 3.7% growth.
It attributed the downward revision to reduced livestock herd sizes because of last year's drought, declining diamond mining and contractions anticipated in meat processing and basic non-ferrous metals.
Growth is seen picking up to 3.9% next year, compared with June's 4.0% forecast.
The Bank of Namibia left its main interest rate unchanged at its last two policy meetings. Its next rate decision will be announced on Wednesday.
