Central bank warns against rising public debt

Namibia’s public debt could rise to 70% of gross domestic product (GDP) by the end of the current financial year if the government fails to implement spending reforms.

Bank of Namibia (BoN) governor Ebson Uanguta yesterday issued this warning during the 2026/27 budget reform roll-out workshop in Windhoek.

He said the country’s debt has already exceeded the 60% benchmark and currently stands at 65.2% of GDP.

“If we do not slow down our debt by the end of the year, it is likely to move up to about 70%,” he said.

Uanguta said the government can no longer rely on borrowing to fund expenditure.