Namibia Unveils Bold Reform to Regain Upper-Middle-Income Status
The arid southwest African nation was downgraded by the World Bank to lower-middle-income earlier this month after its gross national income per capita fell slightly below the $4,496 threshold to maintain the higher status, amid weaker economic activity and increased population growth. The economy grew 3.7% last year from 4.4% in 2023, due to a decline in mining activity.
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