Macroeconomic Forecast Namibia

BMI believes that the economy will continue to grow by 3-4% annually, but will find it difficult to better that. The performance of the South African rand, to which the local dollar is pegged, will continue to have an important impact on external competitiveness. As the lion's share of imports is supplied by SA, the arrangement serves the country well, especially given the prudent economic management of its neighbour. But it also means that Namibia is to an extent hostage to developments in SA, which compounds the economy's vulnerability to world commodity markets

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