Macroeconomic Forecast Namibia

The macro economy continues on a relatively steady growth path as reflected in healthy growth in the important 'mining and quarrying' sector in Q206. Diamond production in Q206 grew by 26% y-o-y - and uranium, gold and silver also exhibited healthy expansion. Developments in South Africa - widening current account deficit, weakening rand and stoked inflation - have a real bearing on the Namibian economy given the strong trade flows between the two (the Namibian dollar's peg to the rand).

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