“Continuing the legacy of H. E. Dr. Hage G. Geingob by caring for the Namibian child”

Third time’s a charm. After two false starts as a result of not having a quorum, Minister of Finance and Public Enterprises, Iipumbu Shiimi, tabled his mid-year budget statement for FY2024/25 in Parliament on 30 October 2024.

As we present a summary of the mid-year budget for FY2024/25 we want to highlight the objectives of the mid-year budget statement. The mid-year budget statement is aimed to provide final fiscal indicators for the year ended March 2024 and to provide revised estimates for FY2024/25.

Although the Namibian economy continues to recover, revisions were made to the FY2024/25 budget mainly due to an expected lower contribution by the mining sector, as a result of low global demand, and the agricultural sectors as a result of the ongoing drought. 

Enclosed on top, please find the Deloitte Commentary on the Namibian Mid-yaer Budget review of 2024/2025.