Latest Fitch rating a confirmation for continued consolidation – New Era
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 […]
Namibia’s junk status remains – The Namibian
THERE is doubt that Namibia would regain a positive investment grading, following Fitch Ratings maintaining the country’s rating at junk status. Analysts said this is because the economy is still faced with hardships, from both the domestic and global front. In November last year, the ratings agency downgraded the country’s credit rating from BBB- to […]
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…
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 […]
Economy easing out of negative growth – The Namibian
FINANCE minister Calle Schlettwein is optimistic that the country’s economy will improve in the second quarter of the year, and move out of the current contraction. Speaking at a press conference on Monday, Schlettwein attributed this to the fact that the economy had recorded growth of -0,1% during the first quarter of 2018, up from […]
Escalating fuel prices push inflation rate on upward trajectory – New Era
WINDHOEK – The Namibia Statistics Agency released Consumer Price Index (CPI) for June 2018, indicating that the inflation rate continued its upward trajectory, increasing from 3.8 percent in May to 4.0 percent in June 2018 compared to a year ago. This upward tick reflects the strongest price increases so far this year, but the inflation […]
Focus on tax evaders and not the informal economy – PDM Youth League New Era
WINDHOEK – The Popular Democratic Movement (PDM) Youth League (YL) has condemned government’s intention to step up efforts to tax the informal sector. The youth wing of PDM has called the directive “worrisome and misguided’’. “It is our view that the Namibian informal sector has not developed at the economic and technical level required to […]
Fuel increases hit consumer pockets hard – The Namibian
THE increase in fuel prices is driving up the prices of basic goods and services at a time Namibians are also being confronted by increased municipal rates and taxes, straining already stretched incomes even further. According to the latest figures of the Namibia Statistics Agency (NSA), annual inflation stood at 4% in June 2018, up […]