Gross Domestic Product (GDP)

08 Oct

Financial system stable amid moderate domestic economic conditions

ObserverObserver MoneyBank of Namibia, Financial System Stability Committee, Gross Domestic Product (GDP), Johannes !Gawaxab

Matin Endjala Namibia’s financial system remains stable and resilient despite slowing economic growth and global challenges, according to the Financial System Stability Committee (FSSC) report released on Tuesday. According to the report, factors like drought, low diamond prices, and weak global demand will cause Namibia's Gross Domestic Product (GDP) growth to slow to 3.1% in 2024. Global factors continue to primarily influence risks to the domestic economy. The FSSC, which includes the Bank of Namibia and the Namibia Financial Institutions Supervisory Authority, met on 3 October to assess the financial system’s resilience. Bank of Namibia Governor Johannes !Gawaxab said: “The…

28 Mar

Basic Income Grant could have supported the economy during lockdown …as government borrowed N$30.6 m daily

ObserverObserver MoneyBasic Income Grant could have supported the economy during lockdown, Gross Domestic Product (GDP), Simonis Storm Securities (SSS)

Tujoromajo Kasuto A new report by Simonis Storm Securities (SSS), reveals that a temporary basic income grant would have gone a long way in providing support to those who lost their jobs, businesses or income as a result of the Covid-19 pandemic lockdown. Once economic indicators demonstrated a meaningful recovery, the basic income grant could have been phased out to avoid dependency and to encourage people to seek employment. This policy intervention would have increased government debt and widened the budget deficit, but it would have supported the economy given that consumer spending is 70 percent of the Gross Domestic…