GOBABIS - Finance Minister Calle Schlettwein said Swapo is the only party with a capacity to maintain macro-economic stability and fiscal sovereignty needed to take Namibia on a positive growth trajectory.
Schlettwein, who is one of the Swapo national leaders assigned to the Omaheke Region, was speaking at a star rally in Gobabis this past weekend.
“Namibia is a small open economy; small in size of population and size of the economy. The openness of our economy makes us vulnerable to external factors, events that happen elsewhere in the region and world over which we have very little or no influences,” Schlettwein said.
He said examples of such external factors that are currently causing headwinds in the Namibian economy, includes low commodity prices, trade wars between the major powers of the world causing reduced trade, economic downturns in neighbouring countries, climate change and resultant droughts.
These negative factors, Schlettwein said, had significant negative impact on the country’s economy.
“Our export value shrunk, our trade balance became negative, our earnings from international trade reduced, our currency weakened,” he said, adding that in spite of these negative external factors, the country has maintained macro-economic stability.
Schlettwein says the progress that Swapo Party brought was significant.
“Our transport infrastructure is rated the best on the continent, we have been consistently in the top five on the continent with regard to business climate and dynamism, corruption index and competitiveness. Our democracy is stable and peace is prevailing,” he said.
Also, he said, Namibia’s budget is self-financed and the country maintained fiscal sovereignty, 96 percent of the country expenditures are covered by own income and only four percent is funded through borrowing.
“We are the masters of our own destiny. As our president always says, prosperity is sustainable only when it is shared amongst all,” he said.
2019-10-22 07:27:37 | 23 days ago