Namibia: 2013 Article IV Consultation-Staff Report; Press Release

February 10, 2014

Preview Citation

Format: Chicago

Namibia: 2013 Article IV Consultation-Staff Report; Press Release, (USA: International Monetary Fund, 2014) accessed December 26, 2024

Summary

This 2013 Article IV consultation highlights Namibia’s positive growth record over the years, which has raised overall incomes and led to positive economic outcomes. However, growth has not translated into sufficient job creation, and unemployment and income inequality are persistently high. Real GDP growth is expected to moderate to 4 percent in 2013 from 5 percent in 2012 reflecting weak global demand for exports partially offset by solid growth in domestic demand. Given the uncertain external environment, the IMF staff recommends that the authorities pursue “growth-friendly” fiscal consolidation, reining in unproductive current spending while protecting growth-promoting capital spending. The IMF staff also welcomes efforts by the government to look into ways to steer a gradual reduction of the wage bill, which would improve labor market outcomes.

Subject: Expenditure, External debt, Financial sector policy and analysis, Financial sector stability, Fiscal consolidation, Fiscal policy, Fiscal stance, Public debt

Keywords: Africa, Authorities' effort, CR, Debt, Debt-creating variable, Dollar, Exchange rate, Export demand, Financial sector stability, Fiscal consolidation, Fiscal consolidation strategy, Fiscal stance, Fund, Global, IMF Policy recommendation, ISCR, Mineral export, Namibian authorities, Policy discussion, Policy mix, Windowtext 0.1pt

Publication Details

Pages:

58
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2014/040
Stock No:

1NAMEA2014001
ISBN:

9781475518450
ISSN:

1934-7685

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