Preliminary outturns in many respects point to improving fiscal fundamentals aligned to positive domestic economic growth prospects and buoyancy arising from tax administration reforms, Finance and Public Enterprises Minister Iipumbu Shiimi has said.
Amid emerging challenges, the Road Fund Administration’s revenue has grown by 11% to N$2.4 billion due to operational effectiveness while its assets have also grown from N$1.8 billion to N$2 billion over the financial year ended 31 March 2022.
Despite the national rail service provider TransNamib being in a challenging financial position due to its short-term cashflow position and limited rolling stock capacity, government deemed it unnecessary to allocate a single penny for the 2023/24 financial year.
While Finance and Public Enterprises Minister Iipumbu Shiimi continues to allocate billions in the domestic budget to prioritised sectors like education, despite repeated undesirable results, he has shown his frustration while reading his statement.
The National Housing Enterprise (NHE) workers will embark on a nationwide strike tomorrow to force the board and management meet their demands after collective bargaining reached a deadlock.
Finance and Public Enterprises Minister Iipumbu Shiimi yesterday shocked friend and foe when he tabled a whopping N$84.6 billion budget, with an increase in
social grants and a tax break for workers.
Otjinene village in the Omaheke region has been experiencing a relatively high investor inflow for the past years.
With the national budget scheduled to be tabled this afternoon, rising public debt is weighing heavily on the minds of economists, while others have called for a reasonable return and accountability on the billions of dollars invested in education.
National electric power utility company, the Namibia Power Corporation (NamPower) financial performance was impacted by the economic downturn over the past five years, exacerbated by the Covid-19 pandemic.
Urban and rural development minister Erastus Uutoni is concerned about housing prices, which he said should not be bitter but must be accommodative and affordable for residents to achieve the basic concept of owning a home.