Namibia’s central bank revises overall inflation projection for 2021 to 3.6 percent


Namibia’s overall inflation is projected to average around 3.6 percent for 2021, slightly higher than the previous forecast of 3.2 percent, said Johannes Gawaxab, governor of the Bank of Namibia, the central bank, Wednesday.

Gawaxab said this in the latest Monetary Policy Committee (MPC) announcement in Windhoek, capital of Namibia.

According to Gawaxab, the domestic economy of the country is expected to grow by 2.7 percent in 2021.

“Since the last MPC meeting, uncertainties and risks have increased and are likely to impact the economy negatively going forward. Hence, the successful procurement and expeditious roll out of COVID-19 vaccines in Namibia remain key to the extent and speed of the economic recovery,” he added.

Meanwhile, Namibia’s central bank left its key lending rate unchanged at 3.75 percent in order to safeguard the one-to-one link with the South African rand and to continue supporting domestic economic growth. Enditem

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