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The Bank of Namibia expects the domestic economy to contract by a record 6.9% this year, owing to coronavirus-induced travel restrictions and a nationwide partial lockdown, against a contraction of 1.1% last year.
In a statement, the bank said the economy was expected to recover moderately in 2021. Last year’s contraction was caused by a drought and falling output in sectors such as construction and retail, while this year the economic shutdown to tackle COVID-19 has hit tourism and damaged other sectors.
The virus has so far only infected 16 people and caused no deaths in the country.
