{"id":16373,"date":"2022-04-05T16:13:22","date_gmt":"2022-04-05T16:13:22","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/budget-highly-pro-youth-nekundi"},"modified":"2022-04-05T16:55:22","modified_gmt":"2022-04-05T16:55:22","slug":"budget-highly-pro-youth-nekundi","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/budget-highly-pro-youth-nekundi","title":{"rendered":"Budget highly pro-youth \u2013 Nekundi"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>One must appreciate without any bias that benefits for the youth in this year\u2019s budget are not glued to the allocations on the youth ministry budget vote, but it is cut across several ministries, deputy minister of works Veikko Nekundi said last week.<\/p>\n

Nekundi said when one holistically and open-mindedly digests the budget without any political agenda, one ought to agree that indeed the budget is \u201chighly pro-youth\u201d.<\/p>\n

Thus, he said, the proposition that youth are indeed the lifeline of the country\u2019s economy resonates with the budget focus.<\/p>\n

Nekundi said this on Thursday while contributing to the budget debate currently underway in parliament.<\/p>\n

He said the budget allocations to the ministry of higher education for the infrastructure expansion at the country\u2019s vocational training centres (VTCs) and the development of services to establish VTCs at Nkurenkuru and Keetmanshoop are undoubtedly a pure youth-focused expenditure<\/p>\n

\u201cThe budget allocation to the ministry of youth, the entire budget allocation to both the ministry of education and ministry of higher education \u2013 the beneficiaries are the youth in totality,\u201d he said.<\/p>\n

\u201cYou cannot come here swimming under political hallucinations because criticising is your tool to garner votes,\u201d he stressed.<\/p>\n

He further addressed the budget deficit, saying it is embarrassing to hear people talking about loans, budget deficits and the debt-to-GDP ratio when they have no understanding of economics or the financial market architecture \u2013 to the point where they mix up the issues of the financial and economic crises with the fiscal crisis, resulting in an unbalanced crisis.<\/p>\n

\u201cWithout first having an appreciation of our financial market architecture and our strategy to manage our loan portfolio risk, you will continue coming here, making statements and asking questions just for political expediency and nothing else,\u201d he told fellow lawmakers.<\/p>\n

He explained that while the country\u2019s loans and debt-to-GDP ratio are high, there is no need to be alarmed since the country\u2019s financial system is and remains solid.<\/p>\n

\u201cOur financial market architecture provides greater space to manage the associated risks. The greater loan value is domestic, while still under the crisis, we have not defaulted on any of our obligations, and there exists no such indication,\u201d he said.<\/p>\n

\u201cJust in November last year, we fully settled the N$7.5 billion Eurobond, which represented 23% of the total foreign debt. During the last quarter of last year, we recorded a positive economic recovery \u2013 and it is expected to continue in the same trajectory this year,\u201d he explained.<\/p>\n

Also, he said the global demand for the country\u2019s commodities has resurrected with improved commodity prices, coupled with the recent commissioning of the diamond vessel.<\/p>\n

\u201cMany, if not all countries, have opened their territories for air travel; therefore, we should expect the recovery of our tourism industry, which is one of our largest employers and contributor to our GDP,\u201d Nekundi said.<\/p>\n

He further reiterated this is a clear indication that we have no reason to unnecessarily press the panic button.<\/p>\n

Nekundi added the nation must guard against demands that propel the meltdown of the country\u2019s economy.<\/p>\n

\u201cUnless there are those that instigate the populace to demand more in order to compromise our fiscal abilities, collapse our economy and achieve their political agenda of placing our country back in the hands of the western forces,\u201d he said.<\/p>\n

He also used the opportunity to urge finance minister Iipumbu Shiimi to ensure the country\u2019s borrowing activities continue to be undertaken within a risk tolerance framework to avert any financial ability meltdown.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. One must appreciate without any bias that benefits for the youth in this year\u2019s budget are not glued to the allocations on the youth ministry budget vote, but it is cut across several ministries, deputy minister of works Veikko Nekundi said last week. Nekundi said when one holistically and open-mindedly digests the […]<\/p>\n","protected":false},"author":84,"featured_media":16372,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[234,236,233],"class_list":["post-16373","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nBudget highly pro-youth \u2013 Nekundi - Namibia<\/title>\n<meta name=\"description\" content=\"One must appreciate without any bias that benefits for the youth in this year\u2019s budget are not glued to the allocations ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/budget-highly-pro-youth-nekundi\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Budget highly pro-youth \u2013 Nekundi\" \/>\n<meta property=\"og:description\" content=\"One must appreciate without any bias that benefits for the youth in this year\u2019s budget are not glued to the allocations ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/budget-highly-pro-youth-nekundi\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-05T16:13:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-05T16:55:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/04\/img-624c745de0dd8.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"479\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/budget-highly-pro-youth-nekundi#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/budget-highly-pro-youth-nekundi\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Budget highly pro-youth \u2013 Nekundi\",\"datePublished\":\"2022-04-05T16:13:22+00:00\",\"dateModified\":\"2022-04-05T16:55:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/budget-highly-pro-youth-nekundi\"},\"wordCount\":597,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/budget-highly-pro-youth-nekundi#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/04\/img-624c745de0dd8.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/budget-highly-pro-youth-nekundi#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/budget-highly-pro-youth-nekundi\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/budget-highly-pro-youth-nekundi\",\"name\":\"Budget highly pro-youth \u2013 Nekundi - 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