Namibia economic growth to slow on drought, lower diamond output

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WINDHOEK (Reuters) – Namibia’s economy is expected to grow at a slower pace of 2.5 percent in 2016 compared with 5.3 percent last year, due to drought and a contraction in sectors like diamond mining, the central bank said on Thursday.

In an economic outlook update posted on its website, the Bank of Namibia said diamond output was projected to shrink 7.3 percent, after a 3.4 percent decline in 2015.


(Writing by Stella Mapenzauswa; Editing by James Macharia)


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