Budget cuts saved N$3 billion – Geingob
President Hage Geingob says through the implementation of a raft of budget cuts the government has been able to save over N$3 billion over the past several months. He was speaking at the official opening of the Swapo Party Youth League (SPYL) congress in Katima Mulilo yesterday.
According to the president, even though the past months have not been easy for the country, as the economy has been buffeted by severe headwinds, something positive has come out of this difficult economic crisis.
“The economic headwinds that we have experienced have allowed us to trim the fat by identifying areas where we can curb excess expenditure. Government has been able to save more than N$3 billion due to the austerity measures implemented over the past several months,” he said.
He added: “This was not done due to the advice of Moody’s or Fitch but due to our own initiatives. Already we are witnessing a positive growth in gross domestic product and are confident that by next year our economy will be trending positively again.”
“We were also allowed to see where we have been corrupt, where we have hiked the prices to pocket something. Take the airport tender – up from N$3 billion to N$7 billion. If I was just quiet we could have spent N$7 billion for what? We took serious measures to address and stop corruption.”
The head of state further revealed that the government is now able to pay all its debts.
“I have ordered that all the historic debts, historical not new ones, must be paid by the end of this month. As you know many small companies are tousling names of people because they are owed some money, and these debts are historical. But we have decided they must be paid by the end of this month, and the paying has started, money is flowing again,” he said.
Geingob stressed that the government has over the years made efforts to strengthen the country’s economy by establishing developmental policies.
“The HPP, NDP and Vision 2030 are Swapo Party policies. I therefore encourage our youths to work hard to ensure that the objectives of these policies are achieved for the benefit of all Namibians.”
The congress, which will run until Sunday, is being held under the theme: ‘The role of the youth in sustainable development.’
The president said the country has placed hope in the younger generation, and encouraged congress delegates to elect leaders who have the interest of the Namibian people at heart.
“Issues of poverty and unemployment should be tackled by our youth. Most importantly, issues of nation building are also inherited by the youth and I would like to stop and ask you to reflect whether we remain genuinely on the course of nation building.”