Namibia's Construction Industry Likely to Rebound in 2018 Only - Schlettwein

By Edgar Brandt

Windhoek — Although suggesting an improvement for the construction sector, Minister of Finance Calle Schlettwein feels this is likely to only occur in 2018.

Over the past year-and-a-half, the construction industry experienced the severest economic circumstances since 2009, with the activity rate in the sector contracting by 26 percent last year, relative to 2015, and, according to latest figures, the contraction is even larger than that.

"Recessionary pressures are anticipated to remain on the construction sector for this year, but the worst appears to be over and the sector will improve gradually with better recovery prospects anticipated in 2018 going forward", said Schlettwein while addressing over 120 member-businesses at the annual general meeting (AGM) of the Construction Industries Federation of Namibia (CIF), which took place on 28 September 2017.