(Adds detail on budget deficit, minister comments)
WINDHOEK, Feb 22 (Reuters) - Namibia expects economic
growth of 3.2% in 2023, down from an earlier forecast of 3.4%
reflecting lower mining output estimates this year, Finance
Minister Ipumbu Shiimi said on Wednesday.
Shiimi said during a budget speech that the budget deficit
in the southern African country was seen declining to 4.2% of
gross domestic product (GDP) in the 2023/24 financial year from
about 5.2% of GDP in 2022/23.
The minister said 2022 growth was estimated at 4% and that
2024 growth was predicted at 2.2%.
Shiimi added it was important to maintain fiscal
sustainability while carrying out reforms so sectors with
significant job-creation potential like agriculture and tourism
could expand.
(Reporting by Nyasha Nyaungwa; Writing by Bhargav Acharya;
Editing by Alexander Winning and James Macharia Chege)
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