2024/2025 Budget Speech Highlights
Finance Minister Ipumbu Shiimi presented the 2024/25 Namibia Budget Statement with the theme “Continuing the legacy of H. E. Dr. Hage G. Geingob by caring for the Namibian child”.
Budget Focus
The budget for the fiscal year 2024/25 is designed with a focus on three key policy pillars aimed at driving economic growth and stability. Firstly, it prioritizes stimulating domestic demand by implementing measures to enhance household incomes and foster an environment conducive to business expansion. Secondly, it emphasizes accelerating investments in critical public infrastructure to address infrastructure deficits and meet the needs of a growing population.
Thirdly, it maintains fiscal prudence by sustaining a primary surplus and ensuring debt obligations are met effectively over the Medium-Term Expenditure Framework (MTEF). Additionally, the budget acknowledges socio-economic challenges such as poverty, unemployment, and drought, with specific provisions made to safeguard livelihoods and protect gains in social sectors.
