The recent Fitch ratings has shown a stable outlook for Namibia, a slight improvement from the previous negative outlook. Long-term foreign currency and long term domestic currency issuer default ratings remain at "BBB-" and "BBB" respectively
According to Fitch, public debt is projected to be 26% of Gross Domestic Product by the end of 2012. This comes as no surprise since government's expansionary fiscal policy led to an increase in debt financing since 2009. Fitch expects the budget deficit to decrease in the projected fiscal years 2014/2015 to 2.4% from the current 2012/2013 projection of 4.2% of GDP. The SACU receipts are expected to revert to the average 9.5% of GDP by 2014 after extreme fluctuations in 2011 (7% of GDP) and 2012 (12% of GDP).
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