In-Depth Analysis
Namibia
Due to risks to the growth outlook, an increasing public debt burden and a loss in confidence in the ministry of finance’s ability to stabilise public debt levels, Namibia has lost its investment-grade credit ratings from Moody’s Investors Service, Fitch Ratings and ourselves.
The much-anticipated economic rebound is expected to materialise in 2019, although at a weaker pace than earlier thought. The retail and wholesale trade sectors are having a tougher time adjusting to the fiscal consolidation and tighter credit conditions than we had anticipated they would. However, the construction industry has bounced back strongly in H1 2018 after a deep and protracted slump, aided by a US$218bn-worth African Development Bank loan which supports government capital expenditure. The mining industry continues to perform robustly, following a dip in production in 2016, thanks to strong output in the diamond and uranium mining subindustries. (Source: Namibia Quarterly Update, December 2018)
Macroeconomic Data
(2018)
|
Fiscal Balance (as a % of GDP) |
-5.7 |
|
Consumer Price Index (% change y-o-y, avg) |
4.4 |
|
Current Account Balance (as a % of GDP) |
-3.9 |
|
Real GDP (annual % change) |
-0.4 |
|
GDP per capital, US$ |
5,227.7 |
|
Import Cover (months) |
4.3 |
|
Population, million |
2.6 |
| Total External Debt (as a % of GDP) |
66.6 |