WINDHOEK: Minister of Finance and Public Enterprises, Iipumbu Shiimi, revealed a N.dollars 75 billion budget for the 2023/24 fiscal year during the mid-term review, including an additional N.dollars 4.8 billion aimed at addressing unforeseeable and unavoidable emergencies.
According to NAMPA, the mid-term budget allocations are in line with a broader policy that focuses on unforeseen and unavoidable emergencies. Shiimi reported that this policy was adopted following a request for a N.dollars 5.3 billion expenditure from various ministries and agencies.
The Appropriated Amendment Bill’s total, initially set at N.dollars 72,596,743,000, saw an increase to N.dollars 75,069,057,000. The hike was attributed to unavoidable emergency expenditures that could not be deferred until the 2024/25 financial year.
Shiimi elaborated that the adjusted budget includes an N.dollars 2.5 billion increase in the operational budget, bringing it to N.dollars 66.1 billion. The development budget remains at N.dollars 6.5 billion, while an additional N.dollars 2.3 billion is slated for debt servicing and contingent liabilities.
In the budget allocation, a sum of N.dollars 643 million was designated for drought relief under the Office of the Prime Minister. Additionally, N.dollars 438.5 million was allocated to goods and services, including N.dollars 290 million for the Ministry of Health and Social Services, N.dollars 25 million for the Ministry of Justice, and N.dollars 17 million for the Ministry of Environment, Forestry, and Tourism.
The Ministry of Sports, Youth, and National Service received an additional N.dollars 14.5 million. Shiimi also earmarked N.dollars 1.2 billion for subsidies and transfers to Government organizations, such as N.dollars 376.3 million for the National Student Financial Assistance Fund (NSFAF), N.dollars 230 million for TransNamib operations, and N.dollars 200 million for the Public Servants Medical Aid Scheme (PSEMAS). Additional funds include N.dollars 105.3 million for the contingency budget and N.dollars 87.5 million for Namibia’s contribution to the SADC mission in the Democratic Republic of Congo.
Furthermore, N.dollars 602.8 million has been set aside for statutory payments to honor loan guarantees. Shiimi concluded, “These were the items we deemed unforeseeable and unavoidable and warranted additional allocation from the available resources.”