Opening remarks
Honourable Speaker, Honourable Members,
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The current financial year is coming to a close, and I am honoured to table the budget for the 2008/09 financial year and the Medium Term Expenditure Framework covering the period 2008/09 to 2010/11.
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For the past three years, we managed to significantly improve revenue streams, which resulted in surpluses. These gains in turn allowed us to reduce our debt stock. We are now in a position to expand the budget significantly, while at the same time remaining macro-economically sound.
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During the period of positive budget balances, we have not only reduced debt, but we have also enhanced investment in propoor pro growth activities.
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The fact that we managed to grow our economy in spite of externally induced negative factors such as high oil prices, high food prices and more recently, strong depreciation of our currency against major currencies is proof of robustness in our approach.
Honourable Speaker, Honourable Members,
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H.E. President Hifikepunye Pohamba, said in his statement on the occasion of the first Cabinet Meeting for this year that: “In order to ensure sustainability and long term viability, implementing agencies are required to sustain their involvement over a long term.” We have indeed accepted macro-economic sustainability
as the overriding policy directive which by now is firmly in place.
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It is, however, equally important to ensure that macroeconomic sustainability is translated into programmes and activities which result into tangible benefits for our people.
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The recent SWAPO Party Congress re-emphasized the ruling party’s commitment to remain a people centered movement. Its resolutions focus on improved qualitative and quantitative outcomes in the education sector, accelerated economic growth translated into improved and equitable wealth distribution,
affordable and reliable health services, enhanced food security, value addition of and beneficiation to our natural resources, and last but not least improved welfare for Namibians.
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The SWAPO Party Government has shown its steadfastness in fulfilling these expressed needs of our people. These needs and aspirations of our people are embodied in Vision 2030 and in our development plans and guided us in setting the priorities under this MTEF.
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