WINDHOEK, Aug. 8 (Xinhua) -- Namibia's economic growth is set to decelerate in 2024, with real gross domestic product growth projected to drop to 3.1 percent this year, down from the 4.2 percent recorded in 2023.
The slowdown is largely attributed to a subdued global economy, weakening demand for Namibia's mineral exports, and the ongoing drought conditions affecting the country, the Bank of Namibia said in its August economic outlook report on Thursday.
