Another measure is the full introduction of the MTEF
and the approval of a Fiscal Responsibility Law, to limit discretionary or unpredictable spending.
Following the Minister of Defence's Strategic Work Session which was held in March 2006, the Ministerial Directive containing the priorities of the MTEF
period FY2007/08--FY2009/10 was issued as follows:
Usually, the introduction of a MTEF
is recommended (far short of forward estimates, with no implied legal commitment of resources and solely for information purposes).
The objective of the MTEF
is to provide closer integration between Budget and the FRBM Statements.
Over the MTEF
, TIPEEG is expected to generate 104,000 jobs, a network of strategic infrastructure and improved domestic production capacity.
He informed that the projection of revenue in the year 2018 would largely be informed by some major macro-economic assumptions contained in the MTEF
and Fiscal Strategy Paper of the Federal Government.
These pressures will remain during the period of fiscal consolidation, with real financial relief only expected from the national fiscus in the outer MTEF
I think the core themes of the previous MTEF
will resonate through the new budget," he says.
9 billion over the MTEF
period, and will include a new performance measure to ensure that investments are made in a manner that reduces the costs of transport in the economy.
I have made some revealing comparisons during last year and 2010 which showed that after only 12 months, for most of the budgets since the MTEF
was introduced, the previous year's estimates could be thrown away as meaningless.
Many of the targets set in the MTEF
are ambitious and it remains to be seen to what extent they will be achieved, but the important point is they have been set and whether we slightly outperform or underperform, is rather irrelevant.
The total allocation to the agricultural sector is estimated at approximately N$7 billion for the MTEF