According to data finalised under the MTEF
, the authorities have made up mind for an additional revenue effort matching about 2.6pc of GDP over a period of three years.
plan itself includes the promise that PSX will offer new products such as voluntary pension funds and explore distribution channels to bring in retail investors to at least one million.
report showcases the government's strategy to deal with these three structural imbalances and putting the economy on the path to sustainable growth and job creation.
The government has prioritized 17 pro-poor sectors through the Medium Term Expenditure Framework (MTEF
) in the PRSP-II, which provided a link between the policy priorities and the related budget allocations.
"The policy goal is to return to a 5-7% level over the next 10-15 years, and the recently approved Medium Term Expenditure Framework (MTEF
) and the Fiscal Strategy Paper (FSP) is very supportive of this aspiration," says Minister Fayemi.
In the context of an economy where per capita incomes are falling, and the medium-term growth outlook remains the weakest since 1997 when MTEF
planning began, this is still a big worry.
The first stage began in 2007, when the Ministry of Finance initiated a reform package with the implementation starting with 2009, consisting of the introduction of a medium term expenditure framework (MTEF
) and of a greater flexibility for the line ministries.
The committees were considering the 2015-2017 Medium Term Expenditure Framework (MTEF
) as a working document for the 2015 Budget.
Over the MTEF
, education will receive N$35.2 billion.
Under these conditions, development and integration of a Medium Term Expenditure Framework (MTEF
) within the revised 5th FYDP and future plans is indispensable to creating a multi-year budgetary framework that links five-year plans.
Tombe said he was pleased with areas which managed to contain HIV/AIDS transmission below five per cent and urged them to intensify the fight against the killer disease, urging that all programmes aimed at fighting the scourge be allocated more funds under the Medium-Term Expenditure Framework (MTEF
Regarding policy-based budgeting, the assessment noted that the budget does not realistically represent policy priorities, as a full medium-term expenditures framework (MTEF
) is still lacking.