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Minister tables NS27,6 billion Budget

Minister tables NS27,6 billion Budget

FINANCE Minister Saara Kuugongelwa-Amadhila today increased total expenditure for the financial year by N$1 billion to N$27,6 billion.

This will chase up the deficit to 7,1 per cent of the gross domestic product (GDP) for the current year.
The Minister unveiled the 2010-11 Budget in the National Assembly in Windhoek.
The social sector received about N$31 billion over the Medium Term Expenditure Framework (MTEF). Of this, education will get two-thirds.
Health has been allocated N$8,1 billion over the MTEF, while N$7,8 billion will be pumped into maintaining law and order in Namibia (an addition of N$660 million).
Kuugongelwa-Amadhila warned that income from the Southern African Customs Union revenue pool will drop by 47 per cent this year, and by 45 per cent in 2011-12.
The Minister announced a N$50 a month increase in social pensions, moving them up to N$500 a month.

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