Namibia: 2019 Article IV Consultation-Press Release and Staff Report

September 13, 2019

Preview Citation

Format: Chicago

Namibia: 2019 Article IV Consultation-Press Release and Staff Report, (USA: International Monetary Fund, 2019) accessed November 13, 2024

Summary

This 2019 Article IV Consultation with Namibia discusses that with the temporary stimuli now ended, the economy is rebalancing while the government is implementing a significant fiscal consolidation. A likely slow recovery, the need for further fiscal adjustment to bring public debt to a sustainable path, persistent inequalities and structural impediments to growth, point to a challenging outlook. Immediate measures are needed to deliver the authorities’ fiscal adjustment plans and bring public debt to a sustainable path. Policies should combine spending reductions and revenue increases that support long-term growth. Better targeting of cash transfers would protect the poor. Structural reforms are urgently needed to strengthen productivity and external competitiveness and boost long-term growth. Reforms should streamline business regulations, contain public sector wage dynamics, and reduce costs of key production inputs. Over time, it is important to remove non-tariff barriers to exports, foster the adoption of new technologies, and address shortages of skilled workers.

Subject: Banking, Fiscal consolidation, Fiscal policy, Fiscal stance, Government debt management, Public debt, Public financial management (PFM), Revenue administration

Keywords: CR, Credit growth, Economy, Fiscal consolidation, Fiscal stance, Global, Government debt management, Growth prospect, Headline inflation, ISCR, Namibia, Private sector indebtedness, Reports balance of payments, Risks statement, Slowing productivity growth, Southern Africa

Publication Details

Pages:

106
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2019/295
Stock No:

1NAMEA2019001
ISBN:

9781513513904
ISSN:

1934-7685

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