WINDHOEK: Namibia’s total revenues and grants for 2012-13 estimated at N.dollars 37.1 billion, which is an improvement over the N.dollars 35.4 billion originally estimated in the budget.
Finance Minister Saara Kuugongelwa-Amadhila made this announcement while tabling the N.dollars 47,6 billion National Budget in Parliament on Tuesday.
The Finance Minister stated that the estimated revenue outturn represents an about 24 percent improvement from the N.dollars 29,9 billion collected during 2011/2012.
The rebound in revenue performance is ascribed to the favourable economic performance, effectiveness of the tax administration reforms, as well as the recovery of the Southern African Customs Union (SACU) Common Revenue Pool.
Speaking about the expenditure outturn, Kuugongelwa-Amadhila said in line with the fiscal consolidation path adopted in the 2012/2013 budget, the total expected allocation of N.dollars 40,1 billion for 2012/2013 amounted to only a 4.2 percent increase over the N.dollars 38.5 billion allocated in 2011/2012.