The Minister of Finance, Calle Schlettwein last week tabled a total budget of N$67 billion of which N$52,1 billion are for the current and N$11,1 billion for the capital budget. The Ministry which receives the the biggest amount of the budget is Education, Art & Culture (N$11,3 billion), Defence (N$7,22 billion), Health & Social Welfare (N$6,5 billion), Police (N$4,77 billion) and Transport (N$4,46 billion).
No substantial adjustment which affects individuals was announced, whilst company tax has been decreased from 33% to 32%.
Of importance is that the threshold of VAT registration has increased from the current N$200 000 to N$500 000.
Regarding agriculture the Green Schemes and other agricultural projects received N$7,75 billion which is an indication of Government’s strive towards agricultural development and food security.
Regarding the Ministry of Land Reform, an increase of 82,7% or more than N$1 billion has been allocated. Of this N$855 million has been budgeted for land purchases for the current financial year. For next year N$511 million is budgeted and the year thereafter N$438 million.
This is a substantial indication of the seriousness of Government to speed up the land reform process and to conclude it by 2020 according to the policy of the Ministry. Up to date the Ministry has purchased approximately 2,7 million ha of the required 5 million ha by 2020 for resettlement purposes. The rest, namely 10 million ha, to make up the total amount ha of the aim of 15 million, will be done through the AA (Affirmative Action) program.
Ministry of Agriculture, Water and Forestry (MAWF): Annual Sectoral Execution Plan (ASEP)
The review of MAWF’s ASEP took place in Windhoek from 24 March 2015 to 27 March 2015. The ASEP contains desired outcomes and strategic initiatives to be pursued through various programmes and projects to ensure the successful implementation of the Fourth National Development Plan (NDP4).
Wallie Roux from the NAU attended the ASEP review. During the proceedings he promoted the inclusion in the ASEP of four projects, namely the implementation of the rangeland management policy and strategy (five pillars for agriculture and one pillar for forestry), the common vision for the livestock and meat industry, as well as subsidised loans for debushing through Agribank.