Private sector credit extension growth slowed to 14.8% in June, from 16.2% in the preceding month, on a year-on-year basis. On a month-on-month basis, credit extension contracted by 0.24%. This is the first time since July 2011 that we have seen a month-on-month contraction in credit extension. This contraction is… Continue reading
Background: The macroeconomic environment in Namibia remains positive, with growth running at or above long term averages for the past five years. Historically low interest rates, expansive Government stimulus and the unprecedented levels of foreign direct investment into Namibia have driven this growth, with a key focus on construction in… Continue reading
The Namibian annual inflation rate remained unchanged at 3.0% in July. On a month on month basis, the inflation rate eased to 0.3%, as a result of slowing price increases in of food and non-alcoholic beverages as well as clothing and footwear. An equal number of CPI basket categories experienced… Continue reading