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Business / Economics

Minister Shiimi Unveils N$100 Billion Budget with Focus on Development and Growth

todayFebruary 29, 2024

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Finance and Public Enterprises Minister Iipumbu Shiimi presented a N$100 billion budget to the National Assembly for the fiscal year 2024/25, with over 20% earmarked for economic and infrastructural development. Emphasizing the theme ‘Continuing the Legacy of President Hage Geingob by Caring for the Namibian Child,’ Shiimi highlighted specific provisions for infrastructure development to address gaps and boost Namibia’s economic growth objectives. The budget allocates N$20.9 billion for FY2024/25 and N$58.9 billion over the Medium-Term Expenditure Framework to sector ministries handling infrastructure construction and economic policy implementation, including projects funded through external loans.

Written by: Leonard Witbeen

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