WINDHOEK, Feb. 26 (Xinhua) -- Namibia's economy is projected to grow by 3.1 percent in 2026, with medium-term growth averaging about 3.3 percent, Finance Minister Ericah Shafudah said Thursday while presenting the 2026/27 national budget to parliament.
She said economic growth for 2025 has been revised downward to 2.9 percent from an earlier forecast of 3.3 percent, mainly supported by uranium and gold mining, wholesale and retail trade, and transport and storage.
The overall budget deficit is expected to narrow to 5.5 percent of gross domestic product (GDP) in the 2026/27 fiscal year from a revised 6.6 percent in 2025/26, and further decline to 3.8 percent in 2027/28 and 3.3 percent in 2028/29, said the minister.
Total revenue for 2026/27 is estimated at 89.8 billion Namibian dollars (about 5.65 billion U.S. dollars), while the total expenditure in 2025/26 is estimated at 105.9 billion Namibian dollars, she added.
Government debt stood at 174.5 billion Namibian dollars, or 65.2 percent of GDP, as of January 2026, Shafudah noted, adding that the government aims to restore a positive primary fiscal balance in 2026/27 to stabilize public debt and safeguard macroeconomic stability. ■