Bye introspection, hi resilience!

ELLANIE SMIT



WINDHOEK

President Hage Geingob has declared 2021 as the ‘Year of Resilience’.

He said in his New Year’s message last Thursday that 2020, which he declared as the ‘Year of Introspection’, will go down as one of the most tumultuous in modern history.

“It is a year where many of our beliefs were tested and our way of life was upended.”

He, however, said that if one thing can be taken from 2020, it is the Namibian spirit of bravery, resilience, perseverance and pertinence in the face of adversity. “Although we were pushed to the brink, we did not break. That should be the enduring consideration which we carry into the New Year, 2021.”

Fraught with challenges

Geingob said 2021 brings with it a new promise of renewal and hope.

According to him, the past six years of his presidency has been fraught with challenges.

“We have faced unprecedented headwinds, brought by a global economic downturn and characterised by falling commodity prices and exchange rate fluctuations.”

To make matters worse for Namibia, this economic slowdown was exacerbated by the worst recurrent droughts in the country’s recorded history, he said.

Geingob added that in the midst of this slumping economy, government was forced to deploy measures aimed at ensuring fiscal sustainability and in turn implement the biggest expenditure cuts since independence.

“As a consequence of a slowing economy a number of small and big businesses were negatively affected. Having staved off this testing period, we were anticipating the beginning of a phase of rebuilding in 2020.”

However, the arrival of the coronavirus changed well laid-out plans of recovery, the president said.

Corona brings suffering

He pointed out that with the arrival of the coronavirus pandemic, jobs have been lost, a number of business have reduced their capacities or have completely closed down and this has led to tremendous suffering of Namibians on a social, economic and physiological level.

According to him, the central bank has estimated an annualised real gross domestic product (GDP) contraction of 7.3%, while the deficit is estimated to balloon to beyond 10% of GDP.

“This level of economic recession is like nothing we have faced as a nation since independence in 1990. It is unprecedented,” Geingob said.

“Given the magnitude of the fallout ahead of us, we will have to respond with a bouquet of interventions that are unorthodox.”

In this regard, government last year delivered measures of relief through the N$8 billion stimulus package, a N$1 billion health response and a N$500 million small- and medium-sized enterprises financing intervention.

Private investment needed

The Harambee Prosperity Plan II, which will be launched in February, will have a focused economic recovery component, prioritising important projects that will be delivered with urgency and transparency, the president said.

Meanwhile, as the country seeks to advance its economic growth and capacity, cognisance should be taken of the crucial role that investors play in bringing much-needed funding and expertise to industries, Geingob noted.

He said private investment is needed in infrastructure, energy and water, amongst others.

He added that this year, efforts will be redoubled to focus on areas mattering most to Namibians such as job creation, economic opportunity, service delivery, housing provision, youth unemployment, the fight against gender-based violence and crime in general.