Pension hike could push social grants bill to N$9 billion - Humavindu - nbc скачать в хорошем качестве

Pension hike could push social grants bill to N$9 billion - Humavindu - nbc

The Namibian government spends around N$7 billion yearly on social grants, with old-age pensions accounting for nearly half of the total.  Michael Humavindu, the Executive Director in the Ministry of Finance, cautions that raising the pension to a mere N$2,000 could push the bill close to N$9 billion. Speaking at the dialogue, Namibia's Path to Dignity: Understanding Distinctions between Universal Basic Grant and Conditional Basic Income Grant, Dr. Humavindu said though the possibility of an increase remains under consideration, the state needs to protect the under-pressure fiscal space. The proposal to raise old-age pensions to N$3,000 has been under discussion since President Netumbo Nandi-Ndaitwah's announcement.  However, she has called for patience, stressing that the current priority is on young people in creating jobs and free tertiary education.