STAFF WRITER
Minister of Finance Erica Shafudah says taxes and royalties from diamond revenues have fallen from N$5.8 billion in 2023/24 to a projected N$414 million in 2026/27.
She says the actual shortfall is estimated at N$5.3 billion .
“To date, the Government has supported the sector through royalty relief measures to protect employment and export earnings.Continued reliance on commodity-based revenue highlights the importance of accelerating economic diversification through expanded agricultural production, downstream value addition, growing services industries and the development of renewable energy industries,” she said.
She said non-tax revenue has been revised down toN$5 billion from N$6.1 billion , mainly due to lower mineral royalties and public enterprise dividends.
“As at 30 September 2026, expenditure commitments and actual spending amounted to N$47 billion against the total appropriation of N$87.9 billion , translating into an overall budget execution rate of 53.5 percent. The development budget expenditure including commitments recorded an execution rate of 42.0 percent at mid-year, while operational expenditure reached 53.0 percent, reflecting steady implementation of approved programmes and activities,” she said.
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