Mid-Term Budget Review: Never too late to reform

Josef Kefas Sheehama Namibian Finance Minister, Mr Iipumbu Shiimi, delivered his 2023/2024 Mid-Term Budget speech on 31 October 2023, taking note of the achievements, challenges, and performances of State-Owned Enterprise (SOE). The Mid-Term Budget Review plays a critical role in the entire budgetary process because it sets the tone for the fiscal framework for the next main budget. The budget is the most important economic instrument of government, as it reflects the country’s socioeconomic policy priorities by translating priorities and political commitments into expenditures. This would include projections for inflation, productivity growth, unemployment, and balance of trade. The economic outlook…