Local economist Theo Klein says it's time income taxpayers hold the government accountable for how it manages revenue derived from taxes.

The second-highest share of tax revenue is derived from income-added tax.

"In 2010, we had about N$11 billion in debt, and at the moment we have about N$130 billion in debt. That means, since 2010, GRN has been borrowing N$29 million every single day, including weekends, for the last 12 years. We want to know where this money is going because it's a sizable amount given our small economy and population."

A local economist says Namibia is unlikely to default on its foreign debts in the medium-term, although there is a need to aggressively stimulate the economy to curb the impact of low taxes and rising inflation on its fiscus.

Namibia's persistent droughts and sluggish economic growth has caused a surge in debt due to widening deficits to a record N$128 billion which is 69% of the Gross Domestic Product (GDP) in the 2021/22 financial year.