Infrastructure projects among priorities in budget
08 Mar 2017 19:40pm
WINDHOEK, 08 MAR (NAMPA) The rehabilitation of the national railway network, ongoing expansion of the Port of Walvis Bay as well as the mass land servicing programme are among the key priorities catered for in the 2017/18 National Budget tabled in the National Assembly on Wednesday.
About 15.8 per cent of total non-interest expenditure, or some N.dollars 9.09 billion, of the budget is allocated to economic and infrastructure development.
Minister of Finance, Calle Schlettwein tabled a N.dollars 62,5 billion National Budget on Wednesday.
This years budget has gone up with approximately N.dollars 1,5 billion, compared to last year's N.dollars 61 billion.
Economic and infrastructure sector is a primary domain for the public-sector investment programme and a means through which fiscal policy support to the economy is deployed, Schlettwein told the lawmakers.
Over the Medium Term Expenditure Framework, the allocation to infrastructure development is approximately N.dollars 28.01 billion.
Schlettwein said the allocation to the economic and infrastructure cluster is further supported by targeted allocations to public enterprises in the economic sectors for targeted infrastructure and development finance projects.
Other key projects are national roads, water and storage infrastructure, increased funding to the public financial institutions for private sector support and Small and Medium Enterprises development.