Namibia trims growth forecast
Namibia cut its 2026 economic growth forecast to 2.3% from 3.1% projected in February, according to its mid-year budget review, after the economy's main drivers performed weaker than expected in the first half of the year. The government expects growth to reach 3.3% in 2029, and the finance minister cited risks including muted global demand and commodity prices, especially for diamonds, high fuel prices, an anticipated El Niño and a foot-and-mouth disease outbreak.
Why it matters: The downgrade illustrates the briefing's commodities theme: diamond demand and price risks continue to shape Namibia's macroeconomic prospects.