President Geingob says economy is well on path to recovery

President Geingob says economy is well on path to recovery

President Hage Geingob says the Namibian economy is well on the path to recovery.
Addressing a packed media conference at State House Monday morning President Geingob said the Namibian economy is in a much better state than what is being projected.
Geingob said good rains resulted in a recovery in the agriculture sector with a bumper harvest expected in the crop production sector.
In the livestock sector, marked improvement in prices has also been observed.
He pointed out that inflation had reached an all-time low of 6,1% in June while food inflation also saw a decrease.
The president said increases in credit extensions the approval of building plans and the rise in car sales on a monthly basis show a modest recovery.