Economy

Economy (712)

Civil servants have threatened to down tools next month to protest the government's decision to deny them a 10% pay raise across the board and other benefits.

Simonis Storm has warned that Namibia’s annual inflation will soon breach the 7% mark due to global supply chain bottlenecks caused by Russia’s invasion of Ukraine.

Namibia should swiftly implement a string of reforms to allow the country to benefit from its oil find, economic advisory firm Simonis Storm has warned.

The Namibia Revenue Agency (NamRA) this week made a bold move towards eliminate unnecessary delays at the country’s exit points by launching the Advance Ruling Programme.

The World Bank has once again failed to reclassifying Namibia's economic status into a lower middle-income economy, after it recently updated its country classification by income level for 2022-2023.

 

The Ministry of Defense and Veteran Affairs has announced the planned recruitment of new members, despite a recruitment freeze imposed by government as part of its cost containment measures.

Namibia can transform its economy, create jobs, reduce inequality, and recover faster from the impact of COVID-19 by deepening private sector reforms and increasing private sector participation in key sectors, research has found.

The Parliamentary Standing Committee on Natural Resources has demanded that National Petroleum Corporation of Namibia (Namcor) increase its equity in oil exploration activities to over 50% from the current 10%.

The European Union has committed to channel more than N$627 million (37 million Euros) to address social issues such as education sector, water, sanitation and energy generation, as well as promoting good governance and gender equality in Namibia.

Namibia is finalizing a policy document that will assist in the development and transformation of the country’s informal sector to be able to contribute to the mainstream economy, the Ministry of Industrialisation and Trade has said.

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