Namibia: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Namibia

International Monetary Fund

No 2018/056, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2017 Article IV Consultation highlights that Namibia’s economy has reached a turning point with ending of temporary expansionary factors. GDP sharply decelerated in 2016 and contracted in 2017 as construction in the mining sector came to an end and the government began consolidating. With the economy contracting and Southern Africa Customs Union’s receipts temporarily increasing, the current account balance improved significantly. The outlook remains positive with considerable vulnerabilities and risks. Growth is projected to resume in 2018, as mining production ramps up, construction activity stabilizes and manufacturing recovers, before converging to a long-term rate of about 3.5 percent, below the average of recent years.

Keywords: ISCR; CR; GDP; private sector; deficit; Namibia; reports balance of payments; headline inflation; credit growth; SACU revenue receipt; SACU revenue; private sector indebtedness; exchange rate; Fiscal risks; Fiscal consolidation; Africa; Southern Africa; Global (search for similar items in EconPapers)
Pages: 86
Date: 2018-02-28
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