Bullish Shiimi loosens the belt

Almost N$1.5 billion will be pumped into health and basic education within the next three budget years for better infrastructure and more staff.About N$700 million for renovations to healthcare facilities, more medical staff, ambulances and medicines were set aside in the 2023-24 to 2025-26 budget documents, which finance minister Iipumbu Shiimi tabled in parliament yesterday.In the 2023-24 budget year, which begins on 1 April, N$9.7 billion has been allocated to health and social services. Until 2025-26 – the medium-term expenditure framework (MTEF) - the total is N$29.4 billion.This year, N$16.8 billion is available for basic education. Over the MTEF, this amounts to N$51.2 billion.More than N$200 million is available for teachers, while N$570 million is intended for the construction and renovation of classrooms and hostels in particular.Shiimi&#039;s theme for his latest budget is "economic boom and care of the poor".NumbersIn total, government plans to spend about N$84.6 billion this year, about N$9.7 billion or almost 10% more than in 2022-23.Public servants’ total remuneration packages will cost the taxpayer nearly N$32.9 billion in 2023-24, about 2.6% higher than in 2022-23.Total revenue of around N$74.7 billion is targeted, an increase of around 16.5%. Of this, income from the pool of the Southern African Customs Union (Sacu) will take care of about N$24.3 billion.This will leave government with a budget deficit of nearly N$9.9 billion, less than the nearly N$11 billion in 2022-23. Namibia&#039;s total debt is expected to increase from N$141 billion to around N$150.9 billion.ReliefSenior citizens&#039; pension will increase from 1 April by N$100 to N$1 400 per month. As will the monthly disability allowance. The monthly allowance for orphans and vulnerable children will increase from N$250 to N$350 per month, while the disability allowance for beneficiaries under 18 will shoot up from N$250 to N$1 400 per month.An amount of N$69.8 million is available to help around 30 000 orphaned and vulnerable children who are currently on a waiting list.SOEsContributions to various public enterprises have been cut. Some will receive somewhat more, but here are the places big money will be pumped: The struggling Agency for Agricultural Marketing and Trade (Amta) gets N$72 million annually for three years, which adds up to N$216 million.Agribusdev will get N$75 million per year.Meatco will feel the pinch, receiving N$66.7 million per year, which totals N$200 million.The Namibia Institute of Pathology can count on N$107 million and another almost N$200 million in the next two budget years.The Namibia Airports Company will receive a once-off of N$47.5 million; there is N$50 million available for the Namibia Wildlife Resorts in the tourism industry, followed by the same amount in the coming two financial years. The Road Contractors Company will get N$55.9 million per year.However, TransNamib will have to wait until next year for N$50 million in assistance and the same amount the year after.The Competition Commission&#039;s assistance jumps from N$17 million to N$24 million and more per year, but the national broadcaster, the NBC, will have to make do with slightly less, N$310 million to N$320 million per year.The Namibian Press Agency&#039;s (Nampa) costs almost double to an annual N$27 million and the state daily New Era&#039;s subsidy increases from N$10 million to N$27.5 million per year.The Namibia Revenue Agency (NamRa) will get more than N$900 million a year compared to the previous N$400 million.

Bullish Shiimi loosens the belt

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Namibian Sun 2025-05-13

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Bullish Shiimi loosens the belt

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Namibian Sun 2025-05-13

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