Public Management

Namibia should regain a positive growth this year

Namibia should regain a positive growth this year
Wednesday, 04 March 2020 13:04

After three years of recession, the Namibian economy is expected to get back on a positive growth trend this year. The good news was reported following an IMF mission to the country last 24 to 28 February as part of the organization’s regular surveillance activities.

Driven by the acceleration of mining production and drought mitigation recorded last year, Namibia's economic growth is expected to turn positive at 1.6% of GDP in 2020. In 2017, 2018 and 2019, growth was negative at -0.9%, -0.1% and -0.2%, respectively.

IMF, however, warns that the new growth projection could be revised downwards mainly due to a decline in global growth related to the COVID-19 virus. IMF also points to lower-than-expected revenues and fiscal slippages in the Southern African Customs Union (SACU) that would undermine the government's efforts to stabilize public debt dynamics.

The institution recommends that the Namibian authorities pursue fiscal adjustment policies to stabilize public debt over time and balance the adjustment with broader reforms to support growth, as well as revive structural reforms to boost employment creation in particular.

“In the absence of structural reforms, growth would strengthen only gradually over the medium term,” the IMF notes.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector could grow to $20 bln annually and create 20 mln...
• BRICS plans a guarantee fund to reduce political and financial risks in developing countries.• The fund will be managed by the New Development Bank...
BEAC granted Afreximbank the first-ever foreign access to the CEMAC public securities market. Cameroon raised $359.3 million via a...
(EBID) - The Board of Directors of the ECOWAS Bank for Investment and Development (EBID) held its 92nd Ordinary Session on June 30, 2025. The Board...
Most Read
01

• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...

Coffee: Global Consumption Expected to Reach Record Level in 2025/2026
02

In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...

In Five Years, Francophone Africa Will be A Major Force in African Tech –Régis Bamba
03

• Burkina Faso-based financial group, Vista Group Holding, has acquired a majority stake in Société ...

Burkina Faso: Vista Group Acquires Controlling Stake in Société Générale
04

Transport and food prices have been climbing steadily across Africa in recent years. In Côte d’Ivoir...

Côte d’Ivoire’s Fuel Price Cuts Haven’t Slashed Transport Costs–Yet
05

• Kenyan President William Ruto signs strategic partnership with UK Prime Minister Keir Starmer to b...

William Ruto in London: New Agreement Aims to Double Kenya-UK Trade by 2030
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

Benjamin FLAUX
bf@agenceecofin.com 
Téls: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.