Africa-Press – Namibia. Finance minister Ipumbu Shiimi has tabled an N$84 billion budget for the 2023/24 financial year.
He says the Namibian economy is in a better position considering revenue outturn and strengthening economic fundamentals.
He was speaking at the parliament while tabling the national budget speech at parliament on Wednesday.
He said economic growth for 2023 is estimated to be at 3,2%.
Shiimi says while noting the positive growth in most sectors of the economy, from a policy perspective, it is still imperative to maintain focus on alleviating the binding constraints to growth in existing sectors of the economy.
The finance minister says It is also important for the country to continue driving productivity discussions with the private sector in the identified three sub-sectors of High Value Fruits, Beef Value Chain and Film and Television.
Shiimi says revenue earned by state during the 2022/23 fiscal year stood at N$56.2 billion by January reflecting a collection rate of 87,8% over 10 months.
Expenditure in January was at N$60,8 billion while debt was at N$139 billion or 68,2% of the Gross Domestic Product (GDP).
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