NA passes 2004-05 Budget

THE national Budget for the 2004-05 financial year, totalling N$12,69 billion, was passed in the National Assembly late on Thursday night after more than a month of deliberations.

It is set to top the agenda of the National Council today. Delivering her final remarks as the Appropriation Bill reached the end of the Committee Stage, Finance Minister Saara Kuugongelwa-Amadhila promised that when more resources were available, these would go towards development projects.She said curtailing the budgets of State departments this year was necessary in the interest of sound fiscal discipline.Although this year’s expenditure is about 3,6 per cent higher than during 2003-04, most ministers bemoaned their “small” budgets, saying they would not be able to fulfil all their intentions.The Basic Education Ministry receives the lion’s share of the national cake at more than N$2,3 billion, followed by the Health Ministry which stands to receive N$1,7 billion.Nine per cent of this financial year’s Budget will be spent on paying interest on the country’s debt.Projected income for 2004-05 is N$12,1 billion – an 11,7 per cent increase on the revenue for the past financial year.The National Assembly went into recess until June 8.Delivering her final remarks as the Appropriation Bill reached the end of the Committee Stage, Finance Minister Saara Kuugongelwa-Amadhila promised that when more resources were available, these would go towards development projects.She said curtailing the budgets of State departments this year was necessary in the interest of sound fiscal discipline.Although this year’s expenditure is about 3,6 per cent higher than during 2003-04, most ministers bemoaned their “small” budgets, saying they would not be able to fulfil all their intentions.The Basic Education Ministry receives the lion’s share of the national cake at more than N$2,3 billion, followed by the Health Ministry which stands to receive N$1,7 billion.Nine per cent of this financial year’s Budget will be spent on paying interest on the country’s debt.Projected income for 2004-05 is N$12,1 billion – an 11,7 per cent increase on the revenue for the past financial year.The National Assembly went into recess until June 8.