Capricorn Group Hosts Pre-Budget Discussion on Fiscal Priorities. Capricorn Group, in collaboration with the Economic Association of Namibia (EAN), GIZ, and High Economic Intelligence (HEI), co-hosted a pre-budget public discussion on February 20, 2024. The event, themed “The National Budget in an Election Year: Fiscal Expansion and Strategic Priorities,” brought together experts to analyze economic policies ahead of Namibia’s national budget.
David Nuyoma, CEO-Designate of Capricorn Group, emphasized the importance of economic dialogue, highlighting the collaborative role of stakeholders in shaping informed financial decisions. HEI’s Managing Director, Salomo Hei, provided an economic overview, discussing global and regional factors that may influence Namibia’s fiscal planning.
Floris Bergh, Chief Economist at Capricorn Asset Management, suggested that adjusting the public sector wage bill, currently at N$33 billion, could free up resources for social welfare initiatives, potentially stimulating economic activity. He noted that redistributing financial resources could enhance consumer spending power.
Tax expert Cameron Kotze addressed the efficiency of Namibia’s tax system, particularly the processing of VAT refunds. He pointed out that delays in tax refunds could impact economic activity and emphasized the importance of improving administrative efficiency.
Ruusa Nandago, Group Economist at FirstRand Namibia, discussed employment challenges, particularly youth unemployment. She stressed that while fiscal policies play a role, structural economic reforms are necessary to address long-term job creation.
The discussion, moderated by Professor Teresia Kaulihowa from Namibia University of Science and Technology, provided a platform for stakeholders to exchange insights on fiscal priorities, economic stability, and strategic financial planning.
