This Quarterly Economic Review (Q4 2025) examines key economic developments between October and December 2025, including trends in growth, inflation, interest rates and investment. The special feature in this QER reviews major policy and institutional changes during the first year of President Netumbo Nandi-Ndaitwah’s administration, from cabinet restructuring to new economic governance structures. The review highlights the opportunities and challenges facing Namibia as government policy ambitions meet the realities of implementation.