Economy expected to grow 4,9 per cent in 2015

18 Jun 2015 17:40pm
WINDHOEK, 18 JUN (NAMPA) – More than 22 000 jobs were created in 2014, surpassing the Fourth National Development Plan (NDP4)'s target of 18 000 jobs to be created annually.
Minister of Economic Planning in the Presidency, Tom Alweendo announced on Thursday that 22 700 jobs were created in 2014, while 19 500 people got employed in 2013, also surpassing the 18 000 jobs’ target of that year.
“For the last two years, we have surpassed the 18 000 jobs target,” he said proudly during a media conference in Windhoek.
NDP4, a five-year development plan, was launched in 2012, characterised by three goals: high and sustained economic growth; increased income equality; and employment creation.
It targets that by the conclusion of the Plan in 2017, the country's economy should have grown by 6 per cent; reduced income inequality to 0,4 per cent, and created 90 000 jobs.
The NDP4 comes to an end in March 2017.
In addition, Alweendo noted that the economy grew by 5,1 per cent in 2013 and 4,5 per cent in 2014, and is expected to grow by 4,9 per cent in 2015.
“We can be just below six per cent economic growth, but still, that is a good achievement,” said Alweendo who is also Director-General of the National Planning Commission (NPC).
He said Namibia’s economic growth average is above the Southern African Development Community (SADC) average, which stood at 4,8 per cent in 2014.
“We have done a good job in terms of what is happening around us. Economic growth is not necessarily an internal matter; it is also driven by external factors.
“We should be happy with that figure. I am quite satisfied with the figure. Although we are below 6 per cent, we are more likely to achieve these goals,” he said.
On the reduction of income inequality, Alweendo said the results of the household survey will be out in March 2016.
The Household Expenditure Survey is conducted every five years.
The last such survey was conducted in 2009 to 2010.
With all these achievements, the country is faced with challenges in the public infrastructure such as housing and energy, which the government is addressing to find long-term solutions for.
(NAMPA)
MMT/ND/LI