Financial year ends on 31 March
More budget cuts are expected when the finance minister tables his budget for the next financial year in the National Assembly today.
The national budget for the 2017/18 financial year will be tabled in the National Assembly today.
The budget will be tabled by finance minister Calle Schlettwein at 14:30, National Assembly media officer Ndahafa Kaukungua told Nampa on Monday.
Schlettwein said at a media briefing in January that he had already laid out the priorities and fiscal policy stance for the next Medium-Term Expenditure Framework in the Mid-Year Budget Review.
“We shall follow through with the stated policy direction, emphasising fiscal consolidation and without losing focus on growth dimension as well as poverty reduction efforts,” he said.
He promised that there wouldn't be another budget cut during this financial year, because the ministry was confident that the re-balanced budget would maintain sustainable levels.
Namibia is expected to benefit from improved Southern African Customs Union (Sacu) revenue, as the region has registered an improvement in the revenue pool.
Sacu executive secretary Paulina Elago told the media last month that the Sacu revenue allocation to member states might be better than last year.
The Sacu member states are Botswana, Lesotho, Namibia, South Africa and Swaziland.
Since independence in 1990 the national budget was tabled in March, but from 2012 to 2015 the budget was tabled in February.
The government allocated N$40.2 billion for the 2012/13 national budget; N$47.6 billion for the 2013/14 financial year; and N$60.28 billion for the 2014/2015 financial year.
The 2016/17 national budget was tabled in Parliament on 23 February 2016.
The N$61 120 637 000 national budget was reduced to N$57 620 637 000 for the remainder of the 2016/17 financial year in October last year.
NAMPA
The budget will be tabled by finance minister Calle Schlettwein at 14:30, National Assembly media officer Ndahafa Kaukungua told Nampa on Monday.
Schlettwein said at a media briefing in January that he had already laid out the priorities and fiscal policy stance for the next Medium-Term Expenditure Framework in the Mid-Year Budget Review.
“We shall follow through with the stated policy direction, emphasising fiscal consolidation and without losing focus on growth dimension as well as poverty reduction efforts,” he said.
He promised that there wouldn't be another budget cut during this financial year, because the ministry was confident that the re-balanced budget would maintain sustainable levels.
Namibia is expected to benefit from improved Southern African Customs Union (Sacu) revenue, as the region has registered an improvement in the revenue pool.
Sacu executive secretary Paulina Elago told the media last month that the Sacu revenue allocation to member states might be better than last year.
The Sacu member states are Botswana, Lesotho, Namibia, South Africa and Swaziland.
Since independence in 1990 the national budget was tabled in March, but from 2012 to 2015 the budget was tabled in February.
The government allocated N$40.2 billion for the 2012/13 national budget; N$47.6 billion for the 2013/14 financial year; and N$60.28 billion for the 2014/2015 financial year.
The 2016/17 national budget was tabled in Parliament on 23 February 2016.
The N$61 120 637 000 national budget was reduced to N$57 620 637 000 for the remainder of the 2016/17 financial year in October last year.
NAMPA
Comments
Namibian Sun
No comments have been left on this article