The Annual National Accounts 2019 were released last week, revealing that the country had reported a revised contraction of 1.6% in 2020, down from the 1.1% contraction forecast in the Preliminary National Accounts 2019. In a thread published on Twitter, Cirrus Capital Economist Robert McGregor explained that the main contributors to the 2019 revision are Agriculture due to a larger contraction in crop farming, Manufacturing due to lower growth in meat processing, and Wholesale & retail trade. McGregor says the data shows that the main reason for continuous decline is reduced investment by the private sector, which, he says, is an indictment of Namibia’s economic and business climate, adding that the country cannot see sustainable, long-term growth without investment in fixed assets/productive capital.