WINDHOEK, June 4 (Xinhua) -- Another hard COVID-19 lockdown would escalate the Namibian government's debt, which currently stands at 68.7 percent of the country's gross domestic product (GDP), Bank of Namibia Governor Johannes Gawaxab said on Friday.
Namibia is currently experiencing a third wave of coronavirus infections with COVID-19-related hospitalizations and deaths rising sharply, according to the Health Ministry.
"Numerous jobs were destroyed, businesses paralyzed as a result of COVID-19, so we cannot afford another hard lockdown," Gawaxab said.
He said there are signs the country's debt will increase to 77 percent of GDP by 2024 if the current trends do not change.
"For the economy to recover we need successful vaccinations. We need investments and stability of the financial sector," Gawaxab said.
Namibia started administering coronavirus vaccines in March and has so far inoculated 4.5 percent of the target population of 1.5 million. Enditem
