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

February 28, 2018

Preview Citation

Format: Chicago

Namibia: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Namibia, (USA: International Monetary Fund, 2018) accessed November 21, 2024

Summary

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.

Subject: Banking, Expenditure, Fiscal consolidation, Fiscal policy, Fiscal risks, National accounts, Public debt, Public financial management (PFM), Revenue administration

Keywords: Africa, CR, Credit growth, Deficit, Exchange rate, Fiscal consolidation, Fiscal risks, GDP, Global, Headline inflation, ISCR, Namibia, Private sector, Private sector indebtedness, Reports balance of payments, SACU revenue, SACU revenue receipt, Southern Africa

Publication Details

Pages:

86
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/056
Stock No:

1NAMEA2018001
ISBN:

9781484344071
ISSN:

1934-7685

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