2014/15 National Budget aims to support inclusive growth

19 Feb 2014 20:30pm
WINDHOEK, 19 FEB (NAMPA) - The Minister of Finance, Saara Kuugongelwa-Amadhila says the 2014/15 National Budget aims to support inclusive growth in a fiscal sustainable manner.
Kuugongelwa-Amadhila said this while tabling the budget in Parliament on Wednesday, adding that the first priority for the budget is to continue entrenching macroeconomic stability as a necessary condition to bolster economic growth and sustainability of development outcomes.
“This requires that expenditure expansion is well targeted, and that we live within our means and do not encumber our children with unsustainable debt burdens,” she said.
She noted that the second priority of the budget is to expand the economy to achieve high economic growth with jobs, by investing in infrastructure and through a gradual drive to enhance the industrial sector in the country.
The minister added that the budget is also aimed at fostering human resources development and skills formation by maintaining priority attention to education, health and the provision of social amenities and social safety nets in order to raise the standard of living of the Namibian people.
The fourth priority is to curb waste and bureaucracy, which is costing the government and hampering the initiative of those who wish to contribute to economic growth and job creation.
The National Budget is N.dollars 60,28 billion, which represents a 26,7 per cent increase from the N.dollars 47,58 billion allocated for 2013/14.
For the Medium-Term Expenditure Framework (MTEF) period (2014-2017), total expenditure is projected to average around N.dollars 64,92 billion.