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

 

ACC soek vir Rooies

2 ure gelede | Misdaad

Denver Kisting - Die Teenkorrupsiekommissie (ACC) het Maandagmiddag ’n verklaring uitgereik waarin hy die publiek vra om te help om die oudlanddros, mnr. Rooies Mostert,...

Ma, seun van Reho in hof ná tref-en-trap

7 ure gelede | Howe

Denver Kisting – ’n 45-jarige ma van Rehoboth verskyn na verwagting vandag saam met haar tienerseun in die landdroshof op dié dorp.Dít kom nadat die...

Hondelewe vir stropers

17 ure gelede | Ministeries

Francoise Steynberg op Waterberg - Pas ná die ministerie van die omgewing en toerisme met die opleiding van hul honde-eenheid teen stropery begin het, het...

NBC verdrink in skuld

17 ure gelede | Tegnologie

Augetto GraigDie voortslepende arbeidsgeskil by die nasionale uitsaaier (NBC) besorg mnr. Stanley Simataa, minister van inligting en kommunikasietegnologie, hoofbrekens, het hy gesê. “Die NBC verdrink...

PDM beraadslag oor grond

17 ure gelede | Politiek

Augetto Graig - Die nasionale uitvoerende komitee van die amptelike opposisieparty, die Popular Democratic Movement (PDM), het Vrydagaand in voorbereiding op die komende nasionale grondkonferensie...

Weer vir 14 September 2018

17 ure gelede | Weer

BINNELAND: Meestal sonnig en baie warm. KUS: Gedeeltelik bewolk en koud tot matig met miskolle in die oggend op plekke. GETYE BY...

Noodvoedselbank vir hospitale sonder kos

17 ure gelede | Gesondheid

Henriette Lamprecht – ‘n Noodvoedselbank is in die Erongostreek geskep as ‘n tydelike oplossing vir die voedseltekorte wat tans in alle staatshospitale in die streek...

Hoop vir die wilde perde

17 ure gelede | Omgewing

Die wilde perde by Garub in die Suide is ’n vulletjie ryker. Volgens ’n verklaring van die Namibië Wildeperdestigting is die vulletjie se trotse ouers...

Namibiërs trotseer Bolivia se pieke

17 ure gelede | Mense

Elvira Hattingh - Twee kleinneefs, mnre. Gerhard Jacobs en Harmen Potgieter, het onlangs uit Bolivia teruggekeer nadat hulle van die eerste Namibiërs geword het om...