Namibia - Public finance



Although per capita GDP is one of the highest in Africa, the majority of Namibia's people live in poverty. The economy is one of the most advanced in the region, but income distribution is very skewed. In order to combat this problem, the government continues to concentrate its spending on social services. A large portion of the budget is also allocated to development projects, including boosting the construction industry and expanding the infrastructure.

The US Central Intelligence Agency (CIA) estimates that in 1998 Namibia's central government took in revenues of approximately $883 million and had expenditures of $950 million. Overall, the government registered a deficit of approximately $67 million. External debt totaled $217 million.

The following table shows an itemized breakdown of government revenues. The percentages were calculated from data reported by the International Monetary Fund. The dollar amounts (millions) are based on the CIA estimates provided above.

Namibia

REVENUE AND GRANTS 100.0% 883
Tax revenue 90.1% 796
Non-tax revenue 8.2% 73
Grants 1.6% 14

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