Budget: EAN hosts discussion on balancing growth and social upliftment

By: Hertha Ekandjo

The Economic Association of Namibia (EAN), in partnership with Capricorn Group Limited and the Hanns Seidel Foundation Namibia, and in collaboration with High Economic Intelligence (HEI), this week held a budget discussion under the theme “Balancing Growth and Social Upliftment: The National Budget in a New Dispensation.”

The discussion brought together economists, policymakers, academics, and civil society representatives for dialogue on how the national budget can be used not merely as a financial document, but as a powerful instrument to foster sustainable economic growth while addressing pressing social development needs.

The discussion was convened to serve multiple objectives, it sought to foster inclusive dialogue on the anticipated national budget and evaluate its alignment with the development goals articulated by the new administration.

The discussions aimed to explore how the budget might differ in structure and focus from previous budgets, particularly in relation to social sector spending and infrastructure development.

Jason Kasuto, Chairperson of the Economic Association of Namibia (EAN), emphasized the need for pragmatic solutions to address Namibia’s economic stagnation, noting that the country is only five years away from Vision 2030 but still grappling with high unemployment and bureaucratic inefficiencies.

He stressed that the budget must create an enabling environment for business and social development.

“Salomo Hei cautioned against overreliance on the budget as a singular tool for economic transformation, instead advocating for policy clarity and well-defined strategies for utilizing natural resources such as oil and gas.

He also urged a focus on economic decentralization through strategic infrastructure investments and therefore we should be cautioned and lend an ear to the analysis to best guide us,” he said.

Meanwhile, Professor Teresia Kaulihowa, Associate Dean at the Namibia University of Science and Technology (NUST), shed light on the human development angle of the budget.

She stressed the importance of a people-centered budget that prioritizes human capital development and inclusive growth.