The need for practical steps to address economic challenges faced by Namibians topped the discussions at the budget dialogue facilitated by the Economic Association of Namibia.
Panellists expressed a shared urgency for immediate action.
The dialogue convened by economists, policymakers, academics, and civil society representatives argued that the experimental phase should have ended.
Namibia's economic issues are long-standing and require clear and decisive implementation.
The national budget is not merely a financial document but a powerful instrument to foster sustainable economic growth while addressing pressing social development needs.
Jesaya Hano-Oshike is the Vice-Chairperson of the Economic Association of Namibia's Board.
He asserted that "Looking ahead with our economy, last year it was projected to grow by 4% by BoN, driven by influence from oil and gas, green hydrogen and tourism and all of that. Looking ahead, oil and gas could be a huge driver, and all those economic increases could increase our budget inflows."
Economist and Managing Director of High Economic Intelligence, Salomo Hei, emphasized the importance of prioritizing unemployment.
"As has been projected, we really need jobs. I will want every dollar to have a return; every dollar should have accountability, but the reality is that we need jobs, and we need sustainable jobs. Improving the lives of Namibians is a big priority area for the implementation plan."
They further delved into new prospects with the new government under President Netumbo Nandi-Ndaitwah.
With the trimming of ministries from 24 to 14, this can prove to be a mammoth task with adjustments. However, they say performance should be at the forefront.
The panellists included various economists, such as Floris Bergh, Chief Economist at Capricorn Asset Management, who advised that "There is a new generational wave of not making everything so complex and being able to solve the social economic problems with pragmatic solutions. There is a new awakening that says maybe we have overcomplicated things that could have been solved otherwise."
Another participant was Jason Kasuto, board chairperson of the Economic Association of Namibia.
"We already have plans over the years, and now we have a new one. Let us give a chance to the new Cabinet to step up, because I believe everything falls on leadership," he said.
The high-level public discussion was held under the theme "Balancing Growth and Social Upliftment: The National Budget in a New Dispensation.
The Minister of Finance and Social Grants Management, Erica Shafudah, is set to table the budget in parliament this Thursday.