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Latest Fitch rating a confirmation for continued consolidation – New Era

Date.

17 Aug 2018

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WINDHOEK - The latest assessment of the Namibian economy by international ratings agency, Fitch Ratings, on Monday affirmed a sub-investment grade rating of BB+ with a stable outlook. Local economists believe that this assessment is a confirmation for continued fiscal consolidation efforts, which have thus far been slow as government struggles to balance consolidation with adequate economic growth, poverty alleviation and a necessary reduction in income inequality...

Also commenting on the latest assessment, Research Associate at the Economic Association of Namibia, Klaus Schade, said Fitch also considered the high wage bill as well as transfers to public enterprises, which remain major challenges...

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