Swapo advised to lean on private sector for recovery

The Swapo think tank has suggested that government continue on its path to fiscal consolidation to allow the private sector more participation in the economy. The recommendations are contained in policy paper titled ‘Post Covid-19: Reviving the Namibian Economy’, which forms part of a series of papers authored by members of the party’s think tank to provide advice to government through policy interventions. “In view of the constrained fiscal space and high government debt, Namibia’s growth recovery will be significantly driven by the private sector. Thus, in the short- to medium-term, fiscal policy should continue to restore fiscal stability through the ongoing fiscal consolidation and hence assist the private sector to lead growth,” a recommendation read. The think tank also recommended that government’s efforts to raise money post-pandemic should include sources outside the private sector. “The post Covid-19 strategy must accord high priority on enhanced and accelerated resource mobilisation from both traditional and alternative sources in order to deploy additional resources to contain the pandemic and minimalise the loss of life and livelihoods,” the paper said. The private sector will also be able to drive local production by allowing it greater participation in the economy, the think tank recommended, on the back of the pandemic’s impact - which led to widespread job losses and a reduction in government revenue. “The private sector will play a significant role in driving innovation in local production, increasing exports and creating employment opportunities,” it recommended.Market-friendly policiesGovernment was further encouraged to provide market-friendly policies to incentivise growth in the economy. “Investments in agro- and meat-processing activities to increase value-addition should be intensified. These will - to a great extent - reduce the level of unemployment. “The initiatives by the private sector to increase investment is a welcome development, hence the Swapo-led government is encouraged to continue providing market-friendly incentives to lure the private sector into the [agricultural] sector,” the recommendation said. Government was further encouraged to create frequent platforms where the private and public sectors could meet to complement the state’s efforts to revive the economy, to enable it to follow-up on private sector concerns and to coordinate on appropriate responses through its agencies and public entities.

Swapo advised to lean on private sector for recovery

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Namibian Sun 2022-07-06

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Swapo advised to lean on private sector for recovery

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Namibian Sun 2022-07-06

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