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Macro - Country Economic Forecasts - Namibia

Publisher Oxford Economics
Published Jul 13, 2023
Length 6 Pages
SKU # OFE18071658

Description

Macro - Country Economic Forecasts - Namibia



Namibia's economic growth got off to a good start in 2023, recording the second-best Q1 figure since 2015. Thanks to this result, we lifted our 2023 growth forecast slightly. The renewed interest in the country's oil and critical mineral reserves is boosting investment and mining activity. Nevertheless, we forecast real GDP growth to ease to 3.1% (previously 2.9%) in 2023 from 4.6% in 2022. This is mainly the result of the rise in domestic interest rates which will weigh on private consumption, and an anticipated moderation in export growth in H2 2023 due to weaker global economic growth.

Table of Contents

6 Pages
Namibia: growth Forecast slightly improved after robust data in K1
Forecast overview
Recent developments
Short-term outlook
Key drivers of our Short-term Forecast
Economic risk
Economic risk evaluation
Background
Economic development
Structure of the economy
Balance of payments
Policy and politics

Pricing

Currency Rates
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