Central bank warns against rising public debt
Namibia’s public debt could rise to 70% of gross domestic product (GDP) by the end of the current financial year if the government fails to implement spending reforms. Bank of Namibia (BoN) governor Ebson Uanguta yesterday issued this warning during the 2026/27 budget reform roll-out workshop in Windhoek. He said the country’s debt has already exceeded the 60% benchmark and currently stands at 65.2% of GDP. “If we do not slow down our debt by the end of the year, it is likely
Namibia's public debt is nearing a critical threshold, with the central bank warning it could reach 70% of GDP by the end of the fiscal year if spending reforms are not implemented. The current debt level already stands at 65.2% of GDP, exceeding the 60% benchmark. Governor Ebson Uanguta emphasized that the government can no longer depend on borrowing to finance its expenditures and must address the situation proactively. This warning follows a similar projection from Fitch Ratings and comes amid a period of slower-than-potential economic growth for the nation.
The escalating public debt poses a significant risk to Namibia's economic stability and its ability to fund essential public services and development initiatives.
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