Outlook for 2011-12

• The South West Africa People's Organisation (SWAPO), which has governed Namibia since the country gained independence in 1990, will dominate the political scene throughout the forecast period.
• The government will resist pressure from extremists in the party to adopt more radical policies, particularly over transferring the ownership of land and businesses to black Namibians, which will proceed at a measured pace.
• The fiscal deficit will increase substantially over the first half of the forecast period as the government maintains higher spending to stimulate the economy while revenue from the Southern African Customs Union falls.
• Real GDP growth will rise to 4.3% in 2011 as global demand for Namibia's minerals increases, and to 4.5% in 2012 as uranium output increases further.
• The trade deficit will widen as faster growth and new mining ventures draw in imports and technical problems limit mineral export growth; current-account deficits of 3.5% of GDP in 2011 and 4% of GDP in 2012 are forecast.

Monthly review

• The High Court has dismissed an application by nine opposition parties to have the 2009 National Assembly election, or its official results, declared null and void.
• In its judgment the High Court blamed the Electoral Commission of Namibia (ECN) for a number of lapses in its handling of the election, and called for an overhaul of election law; it also criticised the ECN's conduct of its defence.
• The parties have declared their intention to appeal to the Supreme Court.
• Proposed changes to the revenue-sharing formula used by the Southern African Customs Union could lower Namibia's share of the common revenue pool from 15% to 9%.
• In its new Economic Outlook, the Bank of Namibia estimates real GDP growth in 2010 at 4.6%, owing to the rebound in mineral sector growth, and forecasts that it will slow to 4.1% in 2011 as the rebound effect fades.
• Production by Namdeb, the government-De Beers diamond joint venture, rose by 57% to 1.47m carats in 2010, owing to the recovery in global demand.
• Higher prices boosted the sales of the Rossing uranium mine by 31% to US$493m in 2010; however, increased operating costs reduced pre-tax earnings by over two-thirds, resulting in a net loss.
• Rio Tinto and Australia's Extract Resources are considering working together to develop Extract's Husab uranium project.
• Namibia's first cement plant, Ohorongo, was formally opened in February.