|
|
|
|
|
|
|
|
|
|
|
You Are
Here: |
Local News|
Friday, October 25, 2002 - Web posted at 11:33:40 GMT More funds for the State WERNER MENGESAN additional national budget for the current financial year is set to be introduced in the National Assembly next week. |
|
Finance Minister Nangolo Mbumba yesterday gave notice in the National Assembly that he will table the additional budget for the 2002-03 financial year on Wednesday. The additional budget will come to Parliament almost seven months after Mbumba tabled the main budget of Government's income and spending for the year between April 1 2002 and March 31 2003. In the light of Mbumba's repeated warnings about Namibia's level of public spending and the country's ever-growing national debt when he introduced the main budget on April 3, he can expect that the state of the budget deficit and Government's lending requirements to fund this year's budget shortfall will be two crucial aspect's of the additional budget that will come under close scrutiny. In the main budget a deficit of N$1,38 billion - compared to the previous year's N$1,47 billion shortfall - was expected. At N$10,78 billion, Government's spending for the year was projected to be a below-inflation 2,8 per cent more than in the previous financial year. Mbumba's predecessor as Finance Minister, current Agriculture, Water and Rural Development Minister Helmut Angula, indicated earlier this week already that about 51 per cent of next week's budget will be allotted to supporting State-owned enterprises. |
|
||||
PO Box 20783 - Windhoek - 42 John Meinert Street Tel: +264 (61) 236970 - Fax: +264 (61) 233980
|
