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Inflation expected to slow to 4.9% next year – !Gawaxab

The overall inflation for 2022 is now projected to average around 6.1% before slowing to 4.9% in 2023, Bank of Namibia governor, Johannes !Gawaxab said this week.

According to !Gawaxab, the central bank is also currently revising its economic growth forecast for 2022 upwards from its previous estimate of 3.2%, adding that the latest estimates for growth in 2022 contrast favourably against the growth rate of 2.7% recorded in 2021.

Meanwhile, international reserves stood at US$2.6 billion at the end of October, enough to cover 4.8 months of imports and sufficient to help maintain the currency peg, !Gawaxab said.


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