In an implicit recognition that Namibia was failing to attract the foreign investment needed to boost growth, President Geingob announced the creation of a Namibia Investment Promotion and Development Board (NIPDB) within the Presidency to take the place of the Namibia Investment Centre within the renamed Ministry of Industrialisation and Trade in March 2020 and named the e. [...] The appointment of Shiimi, the creation of the NIPDB, and the desire to exploit Namibia’s green hydrogen potential were to play important roles throughout the following years. [...] In the wake of the pandemic, Russia’s invasion of neighbouring Ukraine, during which Namibia sat on the fence, wreaked inflationary damage on the global economy and did not spare Namibia given the need to respond with tighter monetary policy. [...] Furthermore, it remains unclear exactly who is in overall charge of economic policy and who, if anyone vets economic initiatives before being made public: the President? His economic advisor? The Minister of Finance? The Director General of the NPC? The Governor of the Bank of Namibia? At the last election – prior to Covid and Ukraine – the ruling SWAPO party suffered a major blow to its prestige. [...] Sectoral Breakdown of GDP in 2023 (%) Sectoral Growth in 2023 (%) The chart shows the contributions made Most sectors of the economy experienced to overall economic activity in 2023 by the positive growth in 2023 led by the electricity different sectors of the economy and water, mining and fishing sectors.
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Table of Contents
- Quarter Summary 1 1
- Special Feature For the Record 1
- News Highlights 1
- Key Economic Variables 1
- Data Trends 1
- Quarter Summary 1
- Macroeconomic Situation The Bank of Namibia Monetary Policy Announcement Dates for 2024 1
- Special Feature For the Record Namibias Economic Policy and Performance since 2019 2
- Table 1 Timeline of Selected Economic Developments October 2019 to September 2024 2
- Year Month Event 2
- The International Economic Environment 10
- 15 16 17 18 19 20 21 22 23 24 11
- Charts 1-6 Selected Mineral Prices 2000-2024 Uranium USlb Gold UStroy ounce 12
- Copper USmt Zinc USmt 12
- Lead USmt Tin USmt 12
- Monetary and Fiscal Policy Chart 7 Namibian and South African Repo Rates January 2008-September 2024 13
- Table 3 Key Fiscal Aggregates as of GDP 14
- Chart 8 Key Fiscal Aggregates as of GDP 14
- Chart 9 Ratio of Debt to GDP 14
- Investment Performance Table 4 Selected Investment Events October 2019 to September 2024 15
- Date Investment Event 15
- 2019 15
- 2020 15
- 2021 15
- 2022 16
- 2023 17
- 2024 17
- Chart 10 Private Fixed and Non-Mining Private Fixed Investments as of GDP 18
- Other Domestic Policies 18
- Domestic Economic Performance Chart 11 GDP and GDP per capita 1990-2023 in 2015 US 19
- International Rankings 20
- Table 5 International Rankings 21
- Conclusions 21
- News Highlights - 3rd Quarter 24
- Date Highlight Commentary 24
- Key Economic Variables 29
- GDP Growth GDP Quarterly Growth 29
- Fixed Investment Nbn in 2015 prices Private Fixed Investment of GDP 29
- Sectoral Breakdown of GDP in 2023 Sectoral Growth in 2023 30
- Namibian and SA Repo Rates Namibian and SA Inflation y-o-y 30
- Private Sector Credit Extension y-o-y Non-Performing Loans of Total Loans 31
- New Vehicle Sales Units Sold Price of Petrol and Diesel Nl 31
- Data Trends 32
