EDITORIAL: The first post-Hage budget
Today, the first post-Geingob national budget will be tabled. Will the budget contain posthumous remnants of Geingob’s influence of the past eight years, or has Treasury gone on to create a financial blueprint in its own image? In fact, how much influence did President Nangolo Mbumba, himself a former finance minister, have on this year’s budget?
During Geingob’s time, we always felt that the budget - which was, of course, shaped by his policies - skewed unaccountably toward social expenditure while disregarding growth.
We yearned for a strategy that sought to boost economic growth through higher capital expenditure and investment spending. Higher fiscal spending to support growth and, naturally, birth jobs.
The late president remarked in his New Year message that he would like to more than double the old-age pension grants. He gave no scientific justification for his calculations, which is a prime illustration of the haphazard way our economy has been managed in recent years.
When it comes from the highest office in the land, a remark like that could easily be construed as a policy statement.
An economy that is limping like a wounded buffalo cannot continue to prioritise social spending and ignore the very tonic that it needs to remedy the hurt – pro-growth spending.
Namibians have for so long demonstrated that they have the intestinal fortitude to endure momentary discomfort. They know that to make an omelette, you have to crack a few eggs!
During Geingob’s time, we always felt that the budget - which was, of course, shaped by his policies - skewed unaccountably toward social expenditure while disregarding growth.
We yearned for a strategy that sought to boost economic growth through higher capital expenditure and investment spending. Higher fiscal spending to support growth and, naturally, birth jobs.
The late president remarked in his New Year message that he would like to more than double the old-age pension grants. He gave no scientific justification for his calculations, which is a prime illustration of the haphazard way our economy has been managed in recent years.
When it comes from the highest office in the land, a remark like that could easily be construed as a policy statement.
An economy that is limping like a wounded buffalo cannot continue to prioritise social spending and ignore the very tonic that it needs to remedy the hurt – pro-growth spending.
Namibians have for so long demonstrated that they have the intestinal fortitude to endure momentary discomfort. They know that to make an omelette, you have to crack a few eggs!
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