National Accounts 2017 – Economic contraction slightly stronger
The Namibia Statistics Agency released the final National Accounts for 2017 on 15 August 2018. Gross Domestic Product (GDP) contracted slightly stronger than estimated in the Preliminary National Accounts released in March 2018 – 0.9% rather than 0.8%. It is only the second drop in real GDP since Independence after a contraction by 1.6% in […]
July 2018 inflation rate – strongest increase so far this year
The Namibia Statistics Agency has released the Consumer Price Index (CPI) for July 2018 on 15 August 2018. The CPI is being used to calculate the monthly (compared to the previous month) and year-on-year (compared to the same month last year) inflation rates. The annual inflation rate increased from 4.0% in June to 4.5% in […]
Fitch Ratings affirms Namibia sovereign rating at BB+
Fitch Ratings has released its latest assessment of Namibia on 13 August 2018. It affirms the rating at BB+ with a stable outlook. The main reasons for the decisions are: Government’s continuous commitment to fiscal consolidation although progress is slow since Government is trying to balance fiscal consolidation with supporting economic growth and addressing poverty […]
Public spaces create business opportunities
The purpose of urban development and planning is not only to provide serviced or un-serviced land for business of residential purposes and to provide necessary infrastructure (transport, water, electricity, communication), but it should also support social cohesion, innovation, creativity as well as business and employment opportunities. Instead of separating residential from businesses areas, which consequently […]
Levy kerosene to boost National Energy Fund – New Era
A local economic analyst has called for kerosene to be included in the petroleum levy, arguing that the exclusion of the highly combustible fuel basically means the government is inadvertently subsidising the cost of air travel. (…) However, a research associate at the Economic Association of Namibia, Klaus Schade, noted in his recent commentary on […]
Motorists spared full impact of fuel price increase – The Namibian
THE Ministry of Mines and Energy announced a fuel price increase of N$0,25 per litre for petrol and diesel countrywide, effective from 1 August 2018. The fuel price increase is a result of an increase by the same amount in fuel tax announced by finance minister Calle Schlettwein in his budget statement on 7 March […]
Namibia has chance to take lead on electric – New Era
WINDHOEK – Despite the continuation of increases in fuel prices, the latest of which came into effect on Wednesday last week, Namibia’s fuel prices remain below prices in neighbouring countries such as South Africa, Zambia and Zimbabwe…
Fuel price increase – Motorists spared the full impact
The Ministry of Mines and Energy announced a fuel price increase of NAD0,25 per litre for petrol and diesel country-wide with effect of 1 August 2018. The fuel price increase is caused by the increase in the fuel tax by the same amount as announced by the Minister of Finance in his budget statement on […]
UP, UP & AWAY The Namibian
ANALYSTS have said the fuel price hike of 25 cents a litre today will lead to increases in the prices of basic goods and services, forcing consumers to dig deeper into their pockets. (…) Economic Association of Namibia (EAN) research associate, Klaus Schade said in an interview with The Namibia that the fuel price hikes […]
Not the source, but the level of income matters
Benjamin Franklin reportedly said that there were only two things certain in life: death and taxes. Taxes have been with us for many thousand years dating back to ancient civilisations including in Africa. Taxes have been collected to finance public services ranging from safety and security (police, military) to health, education and other vital infrastructure, […]