Namibia targets SADC debt-to-GDP benchmark of 60 percent

Finance Minister Ericah Shafudah says high interest payments on public debt continue to crowd out much-needed development funding but assures the nation that the government is strictly prioritising fiscal discipline. Speaking in Parliament, Shafudah noted that debt-servicing costs are more than double the N$6.6 billion allocated to development projects from the State Revenue Fund. Despite a N$1.5 billion revenue shortfall, the government has avoided heavy additional borrowing, trimming total expenditure by 0.9 percent to N$105 billion. The government maintains its firm commitment to converge with the SADC 60% debt-to-GDP benchmark by the end of the next Medium-Term Expenditure Framework. 

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