Finance Minister Erica Shafudah has defended the reallocation of funds in the mid-year budget review.
She said N$685 million redirected from underperforming projects was not lost money, but funding that could not be utilised within the current financial year.
The Minister of Environment, Forestry and Tourism commended Finance Minister Erica Shafudah for what she describes as a responsible and realistic budget review amid declining diamond revenues, slower economic growth and rising debt-servicing costs.
The Minister of Finance Erica Shafudah has proposed an increase of N$700 million from N$87.9 billion to N$88.6 billion for the 2026-2027 financial year's budget.
Finance Minister Erica Shafudah is expected to table the mid-term budget in the National Assembly tomorrow.
The budget will outline proposed adjustments to government spending for the remainder of the 2026/2027 financial year.
Minister of Finance Erica Shafudah says the Namibia Revenue Agency (NAMRA) must ensure that debt recovery from employees does not leave them with less than the legally protected portion of their salaries.
Finance Minister Erica Shafudah clarified that the Government Institutions Policy Fund (GIPF) has not confirmed the loss of the N$922 million recorded as an impairment provision in its 2025 financial statements.
Finance Minister Erica Shafudah has called on the insurance sector to play a bigger role in building economic resilience under climate change pressure.
It is Namibia National Reinsurance Corporation's 25th anniversary, and the celebrations are taking place at Swakopmund.
All public entities in Namibia are required to reserve a specific percentage of their procurement plans for SME participation.
Minister of Finance Erica Shafudah said this in response to Nudo leader Vetaruhe Kandorozu, who questioned whether there is a procurement threshold dedicated to SMEs.
Finance Minister Erica Shafudah has described the University of Namibia (UNAM)'s Veterinary Academic Hospital as a national asset critical to economic development, public health, and scientific innovation.
Minister of Finance Erica Shafudah has emphasised that educating a Namibian child should not be the sole responsibility of the government but a shared commitment involving all stakeholders.
