Namibia Infrastructure Report Q2 2016
BMI View: Growth in Namibia's construction sector will slow after 2016 as the country struggles to attract private investment and battles macroeconomic headwinds in the wake of persistent low commodity prices. The expansion in the short term will be driven by port infrastructure upgrades and the harnessing of renewable energy. Other major projects, mainly in thermal energy and rail infrastructure, remain stalled owing to a lack of funding. Latest Updates And Structural Trends
We forecast growth to slow after recording 10.7% real growth in 2016, averaging 5.9 over our 10-year forecast period.
While the budget balance is expected to remain the red until 2020, the government will continue to prioritise infrastructure development under its Medium Term Expenditure Framework. It is eager to establish a framework for public-private partnerships to attract private investment into infrastructure.
Delays in the construction of thermal power plants will weigh on growth throughout our forecast period.
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