Government to settle outstanding invoices by August
31 Jul 2017 17:30pm
WINDHOEK, 31 JUL (NAMPA) - President Hage Geingob has announced that Government will settle all outstanding invoices by the end of August this year.
The Head of State gave this assurance at a media conference here on Monday, saying Government realised that one key factor fuelling discontent and opinion is unsettled invoices of suppliers of goods and services to the state.
We understand the serious impact this has on business operations, in particular on small and medium-sized enterprises, said Geingob.
He expressed deep regret for the accumulation of unsettled invoices that came about as a result of weak revenue collection due to the economic downturn.
We empathise with those businesses that had to close down as a result of the economic downturn and those employees who lost jobs as a result of such foreclosures, said Geingob.
Speaking at the same event, Minister of Finance Calle Schlettwein said Government owes more than N.dollars 2.1 billion to goods and service providers.
The Namibian economy contracted by 2,7 per cent in the first quarter of 2017 compared to a 4,1 per cent growth recorded in the corresponding quarter of 2016.