New Country Reports market report from Business Monitor International: "Namibia Business Forecast Report Q2 2013"
Boston, MA -- (SBWIRE) -- 06/11/2013 -- Views
Growth will increase in 2013, bolstered by high government spending and rising private consumption, although robust import demand and a decline in some mineral investment will present some headwinds.
The Namibian government is reaching out to strengthen ties with the world's most important emerging markets, to help diversify their economy, learn from other development successes, and expand the market for Namibian goods.
Major Forecast Changes
We have downgraded our expectations for Namibian growth in 2013 from 4.6% to 4.3%, due to ongoing sluggishness in the global economy, and the prospect of delayed private investment due to a slump in the prices of key commodity exports.
Following a substantial revision by the Bank of Namibia to their Balance Of Payments data, we have revised our current account deficit from 4.3% to 4.7% of GDP for 2013.
Key Risks To Outlook
View Full Report Details and Table of Contents
Namibia's small, open economy is highly exposed to events on the world stage. While we have incorporated the ongoing global malaise into our economic forecasts, if the situation abroad deteriorates (or, conversely, improves) more than we anticipate, we would have to again adjust our forecasts accordingly.
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