Elections

 

MPs Laud Finance Minister's Budget Increment

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Members of Parliament have commended the Minister of Finance and Public Enterprises, Iipumbu Shiimi, for his efforts in presenting a substantial increment in this year's national budget. 

However, some are concerned about the inadequacy of the allocated funds for old-age grants and the absence of dedicated financial provisions and employment opportunities.

In her contribution to the Appropriation Bill, PDM's Elma Dienda emphasised the impact of the late president Hage Geingob's vision, which brought hope to senior citizens dependent on the old age grant for survival. 

Significant government debt due for repayment over MTEF

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A significant portion of government debt is due for repayment over the medium term.

The N$14.3 billion Eurobond, due on October 29, 2025, is the largest single-day debt maturity in the history of Namibia.

Tabling the National Budget 2024/25 in the National Assembly, Finance and Public Enterprises Minister Ipumbu Shiimi pointed out strong growth in the gross domestic product, supported by improvements in tax collection measures by the Namibia Revenue Authority. These, he said, have led to significant improvements in several revenue streams. 

NAMIBIA CONNECT | 2024/25 National Budget

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The Minister of Finance and Public Enterprises, Ipumbu Shiimi, invited learners from various schools to witness the tabling of the 2024/25 National Budget in Parliament.

The theme for this year's budget is “Continuing the Legacy of Dr. Hage Geingob by Caring for the Namibian Child" and is focused on the deliberate intention to bring prosperity closer to the Namibian people by promoting economic growth while reinforcing the government’s vision of building an inclusive private-sector-led economy."

 

2024/2025 national budget consultations

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The tabling of the 2024–2025 budget may seem far away, but the Ministry of Finance is already in the process of putting the budget together and engaging stakeholders for input.

Finance Minister Iipumbu Shiimi already held an engagement in the Zambezi Region before moving to the Otjozondjupa Region.

This is an opportunity for the stakeholders to propose their input and the way they think the budget should go.

All seven constituencies in the region were represented at the meeting, where a number of government offices and ministries joined to raise their concerns.