IMF Staff Country Reports

Namibia: 2019 Article IV Consultation-Press Release and Staff Report

Publication Date:

September 13, 2019

Electronic Access:

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Summary:

This 2019 Article IV Consultation with Namibia discusses that with the temporary stimuli now ended, the economy is rebalancing while the government is implementing a significant fiscal consolidation. A likely slow recovery, the need for further fiscal adjustment to bring public debt to a sustainable path, persistent inequalities and structural impediments to growth, point to a challenging outlook. Immediate measures are needed to deliver the authorities’ fiscal adjustment plans and bring public debt to a sustainable path. Policies should combine spending reductions and revenue increases that support long-term growth. Better targeting of cash transfers would protect the poor. Structural reforms are urgently needed to strengthen productivity and external competitiveness and boost long-term growth. Reforms should streamline business regulations, contain public sector wage dynamics, and reduce costs of key production inputs. Over time, it is important to remove non-tariff barriers to exports, foster the adoption of new technologies, and address shortages of skilled workers.

Series:

Country Report No. 2019/295

Subject:

Banking Fiscal consolidation Fiscal policy Fiscal stance Government debt management Public debt Public financial management (PFM) Revenue administration