06 Mar 2017 12:20pm
WINDHOEK, 06 MAR (NAMPA) The National Budget for the 2017/18 financial year will be tabled in the National Assembly on Wednesday.
The budget will be tabled by Finance Minister Calle Schlettwein at 14h30, National Assembly media officer Ndahafa Kaukungua told Nampa on Monday.
Schlettwein said at a media briefing in January he has already laid out the priorities and fiscal policy stance for the next Medium-Term Expenditure Framework during 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 also gave his assurance that there will not be another budget cut during this financial year, because the ministry is confident that the re-balanced budget will maintain sustainable levels.
Namibia is expected to benefit from Southern African Customs Union (Sacu) revenue as the region has registered an improvement in the revenue pool.
Sacu Executive Secretary, Paulina Elago told members of the media last month that the Sacu revenue allocation to Sacu member states may be different from last year as there could be an increment in revenue allocation to member countries.
That is what most member states will be happy with, Elago said.
The Sacu member states are Botswana, Lesotho, Namibia, South Africa and Swaziland.
Since independence in 1990 the budget was tabled in March, but from 2012 to 2015 the budget was tabled in February.
The government allocated N.dollars 40.2 billion for the 2012/13 National Budget; N.dollars 47.6 billion for the 2013/14 financial year; and N.dollars 60.28 billion for the 2014/2015 financial year.
The 2016/17 National Budget was tabled in Parliament on 23 February 2016.
The N.dollars 61 120 637 000 National Budget was reduced to N.dollars 57 620 637 000 for the remainder of the 2016/17 financial year in October last year.