Budget in brief
February 25, 2016, 2:28pm
- Total budget expenditure stands at N$66.00 billion
- Total expenditure on developmental budget is N$9.06 billion
- Revenue for the 2016/17 budget year is projected at N$57.84 billion, an increase of 2 percent over the previous year.
- N$17.23 billion is allocated as targeted subsidies and other current transfers to Public Enterprises for targeted development.
- For the MTEF, revenue is projected to increase at a moderate pace of about 7.2 percent, to reach N$69.82 billion by the end of the MTEF or about 27.5 percent of GDP.
- N$28.53 billion is allocated to the social sector
- Education is the largest recipient of this allocation, with a combined allocation of N$16.20 billion in the budget year and N$52.28 billion over the MTEF.
- The Ministry of Higher Education, Training and Innovation gets N$3.41 billion in the budget year and N$11.48 billion over the MTEF.
- The Old Age Pension grant is increased by an additional N$100.00 to N$1,100.00 per month.
- A total amount of N$7.23 billion is allocated to the Ministry of Health and Social Services.
- The public safety sector is allocated an amount of N$13.01 billion.