EDITORIAL: A much better national budget

The new national budget inspires confidence in many respects. First, it’s great that the tax threshold has been increased to N$100 000. It shows that finance minister Ipumbu Shiimi, as much as he wants that dollar, spared a thought for people in lower-paying jobs - many of them new graduates who are just starting their long trek to financial freedom.The 45.3% increase for the ministry of sport and youth shows good intent, although it’s coming from a very low base. Therefore, N$679.4 million in the 2024/25 fiscal year is still a drop in the ocean, considering that the bulk of that money is likely going to remunerations of ministerial staff instead of developing sport and other youth empowerment schemes.It’s also commendable that Shiimi has drifted away from Hage Geingob’s populist approach on old-age pension grants. The N$3 000 new-year promise had our hair standing on end in fear. A marginal N$200 increase is sufficient under the circumstances.We can’t keep robbing Peter - the youth - to pay Paul. The country belongs to all who live in it and we have to be pragmatic and inclusive of all demographics. We have to atone for our past sins, and this is a good start. At N$165.8 billion - or 60.1% of GDP – public debt remains a huge source of concern, but we are happy that signs of marginal decline are starting to show. If NamRA&#039;s splendid revenue collection continues on this trajectory, we might be able to put our begging bowls away soon.

EDITORIAL: A much better national budget

Comments

Namibian Sun 2025-05-12

Please login to leave a comment

EDITORIAL: A much better national budget

Comments

Namibian Sun 2025-05-12

Please login to leave a comment

Login