Namibian household debt worrying

08 March 2018 | Ekonomie
The average Namibian household has already spent next year’s income, economist and co-founder of Cirrus Capital, Rowland Brown, says.

During a presentation on the Namibian economic outlook at the Eljota Investment Summit on Tuesday, Brown said the amount of debt in Namibian households doubled in the past seven years.

Brown said although household income grew over the past seven years due to a booming economy, the ratio of household debt relative to household disposable income went down during much of the period.

From mid-2015, household debt levels increased faster than household income levels.

Brown further indicated that currently, household debt levels relative to household income stood at 100%. This means households can no longer buy as much as they could a year ago.

“We are extremely concerned about households in Namibia at the current point in time for a number of reasons. In 2016/17, we started to see a rapid deceleration in the growth of household income and if you look at 2017, it appears as if the growth of disposable household income was quite a bit below inflation,” he stated.

Brown went on to say that whilst households are sitting with declining incomes and very high levels of debt, fewer households have people who are employed currently compared to two years ago. - Nampa

Soortgelyk

 

Ses sterf in vroeë oggendure

7 ure gelede | Ongelukke

Tanja Bause 'n Motorongeluk tussen Windhoek en Okahandja het gister om 05:45 die lewens van ses mense geëis.Vyf mense was in 'n sedan van...

Katrina se skoonsuster verhuur glo lyshuis

7 ure gelede | Howe

Denver Kisting Die hoërhof in Windhoek het gister gehoor 'n skoonsuster van me. Katrina Hanse-Himar­wa het glo 'n huis, wat sy wederregtelik onder die...

Weer vir 12 Maart

7 ure gelede | Weer

BINNELAND: Gedeeltelik bewolk en baie warm in die verre noordooste met 'n paar donderbuie, andersins sonnig en warm tot baie warm. KUS: Gedeeltelik bewolk en...

Steytler verlaat Staatshuis

7 ure gelede | Regering

Dr. Alfredo Hengari, die president se woordvoerder, het in 'n bondige verklaring gesê Steyt­ler het verlede Maandag reeds bedank.Dit was ook sy laaste werkdag, het...

Vrae oor Boeing ná tweede ramp

7 ure gelede | Ongelukke

Ronelle Rademeyer Terwyl dit gister bekend geword het die twee vlugopnemers van die splinternuwe Boeing 737 Max 8 is op die ramptoneel van vlug ET302...

Bekende rugby-afrigter verskyn op diefstalklag

7 ure gelede | Howe

Andrew Poolman'n Voormalige afrigter van ­Namibiese nasionale rugby­spanne op senior en junior vlak verskyn vanoggend in die Windhoekse landdroshof, nadat hy Sondag op aanklag van...

Vakbonde: SADC moet by Zim ingryp

7 ure gelede | Arbeid

Augetto Graig - Dis hoog tyd dat die Suider-Afrikaanse Ontwikkelingstreek (SADC) se arbeidsministers by die krisis in Zimbabwe ingryp.Dít volgens me. Zingiswa Losi, president van...

Peya wis niks van Stad Windhoek se plan

7 ure gelede | Plaaslik

Denver KistingTeen gisteroggend het die ­minister van stedelike en lande­like ontwikkeling, dr. Peya Mushelenga, nog geen amptelike woord oor Windhoek se 90-dae- omkeerplan gehoor nie.Mushelenga...

Weegbrûe beskerm ons paaie

7 ure gelede | Vervoer

Augetto Graig - Regstappe teen en die vervolging van voertuigeienaars wat hul voertuie oorlaai, sal na verwagting van 1 April af inwerking gestel word. Dít...