SACU inflows boost reserves
02 December 2020 | Economics
Jo-Maré Duddy - Namibia’s foreign reserves rose by 5.2% to nearly N$34.4 billion in October – up N$1.688 billion from the previous month.
The latest figures provided by the Bank of Namibia (BoN) is a turnaround from that of September, which saw a month-on-month decrease of N$719 million in reserves.
The central bank attributes the rise in reserves in October to an increase in inflows from the revenue pool of the Southern African Customs Union (SACU).
Namibia’s share of the SACU revenue pool in 2020/21 is estimated at about N$22.2 billion, according to the mid-year budget review which was tabled in October.
The latest figures provided by the Bank of Namibia (BoN) is a turnaround from that of September, which saw a month-on-month decrease of N$719 million in reserves.
The central bank attributes the rise in reserves in October to an increase in inflows from the revenue pool of the Southern African Customs Union (SACU).
Namibia’s share of the SACU revenue pool in 2020/21 is estimated at about N$22.2 billion, according to the mid-year budget review which was tabled in October.
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