Elections

 

The Minister of Finance, Iipumbu Shiimi, has tabled an additional budget of N$4 billion in the National Assembly for the financial year 2022–2023.

In his mid-term budget adjustment, Iipumbu increased the operational budget from N$56.6 billion to N$60.1 billion.

The development budget increased slightly from N$5 billion to N$5.5 billion.

Shiimi tabled this year's mid-term budget with a promising tone, with projected slight economic growth, improved tax collection, growing revenue generation, and downward revised national debts, among others.

Most of the indicators are pointing to positive changes. He attributes this to sound fiscal policies and reforms.

The budget further takes into consideration the 3% civil servants' salary and benefit adjustments, with an additional cost of N$1.3 billion.

A total of N$497.7 million will go towards settling outstanding invoices and catering for potential shortfalls on critical ongoing projects to ensure continuity and avoid penalties on road projects.

This includes covering the shortfall on the land servicing programme as well as the extension of the apron at the Hosea Kutako International Airport.

N$747.7 million is for additional personnel expenditure in the ministries of Health and Social Services and Education, Arts and Culture.

A total of N$872 million will be used to cover the goods and services of various government entities, such as utility shortfalls and animal disease control, among other things.

Another N$531.1 million is for subsidies and services to parastatals such as NASFAF and TransNamib for the refurbishment of locomotives.

N$99.3 million is for the acquisition of capital assets to purchase medical equipment to support medical internship programmes.

 

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MICT

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Author
Jefta Tjihumino