BoN expects economic growth of 0.3% The Bank of Namibia (BoN) expects the economy to grow by 0.3% this year, according to its latest Economic Outlook released today. The Namibian economy was in recession in 2017 and 2018. The central bank expects the construction sector to exit its recession, but wholesale and retail trade is likely to remain in the red. Agriculture, too, is forecast to remain in a recession.