Ministry of Finance 2012/13 Budget and the Corresponding MTEF –Key Highlights

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

2. Contents • Introduction • Fiscal numbers • Fiscal Summary • Expenditure Breakdown • Key spending areas • Budget Priorities • Policy Agenda • Accountability • Conclusion

3. Introduction • 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

4. National Budget Cycle

5. Fiscal Summary • Total Revenue and Grants in N$000 for the MTEF

6. Fiscal Summary Cont/ • Global Ceilings for the MTEF

7. Budget Balance and Debt Stock in N$000

8. Fiscal Consolidation

9. Expenditure Breakdown (N$ 000)

10. Key Spending Areas – 2012/13 * Economic Ministries – Finance, Mines and Energy, Agriculture, Trade and Industry, Fisheries and Lands and Resettlement.

11. Budget Priorities • 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

12. Upcoming Policy Reforms • 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

13. Accountability • 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

14. Conclusion • Let us keep to the Theme of the Budget: Fiscal Sustainability and Job Creation: Going More with Less! • I thank You!