Namibians Borrowing Less – allAfrica.com

Namibians are currently spending less on debt, compared to what they have in the past.

The Bank of Namibia (BoN) in its latest Financial Stability Report, which was released on Tuesday, says this is mainly because salaries have increased in accordance with inflation, and the government is hiring more people.

“The ratio of household debt to disposable income changed from 43,3% in 2022 to 40,5% in 2023, partly due to inflationary salary adjustments, coupled with recruitment by the government during…