The National Assembly has approved an amount of about N$12.9 billion to be allocated to the Ministry of Finance.
Members of Parliament shared their views and suggestions on the budget prior to the approval of the vote.
The Minister of Finance says the national budget is not merely a statement of numbers but an instrument of fiscal reform which advances disciplined consolidation anchored on primary budget balance.
The debate on the appropriation bill is now set to proceed to the committee stage.
There are important lessons that Botswana can draw from Namibia and Morocco, as the country seeks to create a tax system that is not only technically sound but also fair, efficient and aligned with the aspirations of its people.
Discussions on the Appropriation Bill commenced today, with MPs stating that more should be put towards development projects rather than operational costs, which now exceed N$80 billion, with only N$3,6 billion allocated towards development expenditure.
Taxpayers owe the Namibia Revenue Agency (NamRa) a staggering N$ 90 billion accumulated over the years.
NamRA's Chief of Strategic Communications, Stakeholder Engagement, and Taxpayer Education, Yarukeekuro Steven Ndorokaze, described it as a historic debt.
The Namibia Students Financial Assistance Fund (NSFAF) holds a financial asset in student loans of N$10.3 billion for the financial year that ended on 31 March 2024.
However, the auditor general's latest report on the accounts of NSFAF raised concerns over poor loan recovery management.
Prime Minister Elijah Ngurare presented a N$131.6 million budget allocation to boost transparency and accountability in the use of public funds.
Dr. Ngurare was motivating the Office of the Auditor General's budget under vote 4.
