Namibia; Staff Report for the 2011 Article IV Consultation.
Namibia’s government has launched a major three-year fiscal initiative in 2011 aimed at increasing growth and employment. Public debt is rising rapidly, from a low base. The authorities intend to unwind the fiscal expansion in 2014. Fiscal consolidation would help keep public debt to a manageable level, support the economy’s external position, and provide room to maneuver if further shocks arise, including a potential fall in revenues from the Southern African Customs Union. The authorities reaffirmed their intention to support the exchange rate peg against the South African rand.
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