Budget 2012 – key highlights

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1
Ministry of Finance
2012/13 Budget and the Corresponding
MTEF –Key Highlights
Presentation to the Parliamentary Standing
Committee on Economics, Natural Resources
and Public Administration
01 March 2012, Hotel
Furstenhof
Contents
2
1.
2.
Introduction
Fiscal numbers



3.
4.
5.
6.
Fiscal Summary
Expenditure Breakdown
Key spending areas
Budget Priorities
Policy Agenda
Accountability
Conclusion
Introduction
3


The 2012/13 financial year marks the end of the
10 year series of the rolling Medium Term
Expenditure Framework (MTEF) documents
Tabling of the Budget -one of the Stages of the
Budget Cycle
National Budget Cycle
4
Fiscal Summary
5

Total Revenue and Grants in N$000 for the MTEF
Year
Total Revenue and Grants (N$’000)
Total
Non-Tax
Grants
Revenue
Revenue
Inside SRF
2012/2013 33,811,212
2013/2014 33,586,839
1,564,542
1,624,365
24,948
25,696
2014/2015 37,904,647
1,723,962
26,467
Total
105,302,698 4,912,869
Grand Total Over the MTEF: 110,289,678
74,111
Fiscal Summary Cont/
6

Global Ceilings for the MTEF
Year
Estimated Expenditure (N$’000)
Oper.
Statutor
Dev. Budget
Budget
y Exp
inside SRF
2012/2013
31,045,006
2013/2014
31,167,402
2,396,287
2,682,832
Total
6,715,697
40,156,990
7,150,866
41,001,100
7,040,866
40,190,086
20,907,429
121,348,176
3,785,547
2014/2015
Total
29,363,673
91,576,081 8,864,666
Grand Total Over the MTEF: 121,348,176
Budget Balance and Debt Stock in
N$000
7
Year
Budget
Balance
Domestic Foreign
Debt
Debt
Total Debt
Stock
2012/13
-4,736,577
19,376,577
8,925,835
28,302,411
2013/14
-5,743,915
25,120,492 9,372,127
34,492,618
2014/15
-517,874
25,638,366 9,840,733
35,479,098
Total
-10,998,366
70,135,435 28,138,695 98,274,127
Fiscal Consolidation
8
50,000,000
Revenue and
Grants
40,000,000
30,000,000
Total
Expenditure
20,000,000
Budget
Balance
10,000,000
N$ 000
0
2010/11
-10,000,000
-20,000,000
2011/12
2012/13
2013/14
2014/15
Expenditure Breakdown (N$ 000)
9
18,000,000
Operational
(Personel)
16,000,000
14,000,000
Operational
(Other, incl
transfers)
12,000,000
10,000,000
Development
Budget
Expenditure
8,000,000
6,000,000
Interest and
other
expenditure
4,000,000
2,000,000
2010/11
2011/12
2012/13
2013/14
2014/15
Key Spending Areas – 2012/13
10
Other, N$6bn
Social Grants,
N$2.5bn
Defence,
N$3.4bn
Transport,
N$2.5bn
Police,
N$2.4bn
Education,
N$9.4bn
Economic*,
N$7.4bn
Health, N$4.0bn
* Economic Ministries – Finance, Mines and Energy, Agriculture, Trade and
Industry, Fisheries and Lands and Resettlement.
Budget Priorities
11






Human resources development and skills formation
Strengthening Social Safety Nets
Economic growth , employment creation and poverty
reduction
Infrastructure development
Defence safety and public Order
Youth development
Upcoming Policy Reforms
12





Tax Policy and Administration;
Managing the Budget on Programme Basis
Public Expenditure Reviews (following on from the
insightful Education Review);
Public Service Medical Aid scheme
Public Procurement System
Accountability
13



O/M/As will be required to produce Accountability
Reports, highlighting concrete results
SOEs will also be required to submit Reports
through their Line Ministries
Audited Reports to Parliament
Conclusion
14


Let us keep to the Theme of the Budget: Fiscal
Sustainability and Job Creation: Going More with
Less!
I thank You!
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