A research manager at the First National Bank of Namibia says Namibia’s economic growth is expected to decelerate by 3,1% in 2016. In his contribution to the latest Sub-Saharan Africa Outlook conducted by RMB Global Markets Research, Namene Kalili, says the Namibian economy remains under pressure. He attributes this to low commodity prices, together with adverse climatic conditions, which continue to slow growth. Kalili says the severe decline is noted in the agricultural, mining and construction sectors, which are heavily dependent on the use of water. He points out that the completion of several projects will see a slowdown in construction activity, due to water restrictions. The FNB Research Manager, Strategic Marketing and Communications also expects a slowdown in credit demand, alongside a decrease in household spending.