According to the Bank of Namibia’s Economic Outlook 2020, released yesterday, the domestic economy is expected to contract by 7.8 percent in 2020, followed by a moderate recovery in 2021. A press release issued by the bank explains that the estimated deeper contraction during 2020 is mainly attributed to the outbreak of the Covid-19 pandemic, which has led to travel restrictions across the world and lockdowns in many countries, including Namibia. The most affected sectors include hotels and restaurants; mining; transport and storage; manufacturing; wholesale and retail trade; financial and insurance services; and construction. The Namibian economy is, however, projected to recover to growth rates of 2.1 percent and 2.7 percent in 2021 and 2022, respectively.