WINDHOEK, Sept. 20 (Xinhua) -- Namibia's economic growth will gradually recover over 2018 and 2019, mainly on the back of an uptick in mining sector activity, according to Fitch Solutions Macro Research.
The firm, a unit of Fitch Group, said in an outlook published on Thursday that uranium will be the main engine of growth in 2019.
Meanwhile, the firm has revised down its forecast for Namibia's real Gross Domestic Product (GDP) growth in 2018 and 2019 from 1.4 percent to 0.8 percent and from 2.7 percent to 2.1 percent, respectively.
"While we maintain a strong view on the direction of economic growth in Namibia, we have revised down our forecasts to align them with the latest revisions by Namibia's Statistics Agency," the research firm said.
However, the firm noted the risk of a further revision to the forecasts underpinned by the new release of data for Quarter 2, 2018, which is scheduled for Sept. 28.
