Namibia to accelerate budget reforms as Middle East tensions weigh on outlook

WINDHOEK, June 8– Namibia will accelerate budget reforms as escalating tensions in the Middle East add pressure to inflation, trade costs and economic growth, Prime Minister Elijah Ngurare said Monday. Speaking at the opening of the 2026/2027 budget reform roll-out workshop in Windhoek, Ngurare said the worsening global environment is already contributing to higher fuel and food prices, rising shipping costs and weaker external demand. “For Namibia, this has three important implications: higher imported inflation through fuel and food prices; increased pressure on trade and the external position through higher shipping and import costs; and weaker growth prospects through softer external demand and tighter financial conditions,” he said.