New market study, "Namibia Business Forecast Report Q3 2013", has been published

From: Fast Market Research, Inc.
Published: Tue Jul 23 2013

Although government spending should remain relatively high during the final year of the Targeted Intervention Programme for Employment and Economic Growth, the economy is facing rising headwinds amid widespread drought and rising inflationary pressures.

The ongoing sluggishness in the global economy will suppress foreign investment into the mining sector, but other sectors, such as transport infrastructure, are seeing stronger growth.

Major Forecast Changes

We have downgraded our forecast for the budget deficit given rising spending commitments; we are forecasting a shortfall of 6.6% of GDP in 2013, compared to our previous estimate of 6.4%.

Following another substantial revision by the Bank of Namibia to their balance of payments data, we have revised our forecast for the current account deficit from 4.7% to 2.6% of GDP for 2013.

Key Risks To Outlook:

Namibia's small, open economy is highly exposed to events on the world stage. While we have incorporated the ongoing global malaise into our economic forecasts, if the situation abroad deteriorates (or, conversely, improves) more than we anticipate, we would have to adjust our forecasts accordingly.

Full Report Details at

Much of the economy remains closely tied to agriculture, and weather poses substantial risks, as illustrated by the ongoing drought which has threatened yields and food security. Changing weather conditions pose both upside and downside risks to a number of our forecasts, including for growth, inflation, and trade.

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