News Column

2014 Budget Set for 19 February

February 13, 2014

Chamwe Kaira

FINANCE minister Saara Kuugongelwa-Amadhila says she will present this year's national budget in the National Assembly next Wednesday (February 19).

"The theme will be similar to the one of last year, of sustainable growth and improving the lives of our people, but we are still working on a final theme," she said in an interview yesterday.

In the 2013/14 financial year, revenue was projected at N$40,1 billion, about 8,2% growth from the estimated revenue for 2012/13. Revenue was projected to grow by an average of 7,3% annually to reach N$45,6 billion by 2015/16.

Total expenditure for 2013/14 amounted to N$47,6 billion, equivalent to a 19% increase from the N$40,1 billion allocated in 2012/13 or about 41% of GDP.

Operational expenditure was set at N$37,2 billion, equivalent to a 19,8% increase from N$31 billion allocated during the previous year. The development budget was increased by 21,3% to N$8,1 billion, from the N$ 6,7 billion allocated in 2012/13 to give impetus to growth-enhancing infrastructure development and create jobs.

The budget deficit was projected to increase to 6,4% of GDP, from 2,8% estimated in the 2012/13.

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Source: AllAfrica

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