Windhoek
The Deputy Minister of Finance Natangue Ithete says the 2016/2017 budget gives due regard to programmes aimed at youth empowerment and development, while creating a conducive environment for private sector investment and job creation.
The budget allocation to the National Youth Service is N$102.04 million, which represents an 8.5 percent increase from the 2015/2016 financial year, noted the deputy minister who spoke at a youth review gathering on the 2016/2017 budget last Wednesday evening.
Consistent budgetary allocations are also made to support various facilities for promoting youth entrepreneurship, highlighted Ithete. For instance, the Namibia Youth Credit Scheme allocation is increased by about 60 percent to N$5 million in 2016/2017, he added.
“Several public policy interventions also support youth empowerment and the participation of the youth in mainstream economic activity,” he said.
Furthermore, Ithete stated: “Youth empowerment is cross-cutting and is not only limited to the specific allocations to youth empowerment schemes.”
“We should recognise that human resources development, especially skills development, is a critical factor in empowering the youth and unlocking opportunities for employment and self-employment.”
He said that the government’s commitment to prioritise education and health in the budget signifies its resolve to address needs in the human resources development arena.
Ithete said the 2016/2017 budget strikes a balance between mitigating fiscal risks and providing more targeted expenditure allocations to priority national development programmes.
“The budget inspires confidence in future growth prospects and the sustainability of fiscal outcomes. It maintains the national priorities and gives due regard to programmes aimed at youth empowerment and development, while creating a conducive environment for private sector investment and job creation.”