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Economic Workshop, 20-21 February 2017

Members' Parliament who attended the workshop

 

  Story by Ndahafa Kaukungua

Members of the National Assembly benefited from an informative economic workshop that was held in the National Assembly Chambers from 20-21 February 2017. This opportune workshop was conducted by leading economists, amongst them, Mr. Klaus Schade, the Executive Director of the Economic Association of Namibia who extensively spoke about the Namibian economy and the drivers of economic growth.

Director of Research at the Bank of Namibia, Ms. Florette Nakusera, explained economic concepts such as the monetary policy, balance of payment, the exchange rate and international reserves.

 

The information session was aimed at enhancing the understanding of Members of Parliament and staff with particular focus on the budgeting processes and prevailing economic situation in the country. The Speaker of the National Assembly, Hon. Prof. Peter H. Katjavivi in his opening remarks stated “that Parliament is reaffirming its stand and obligation to prevent wastage through scrutiny at the stage of the budget debate in the House and also through oversight during budget implementation.” The Minister of Finance, Hon. Calle Schlettwein in his address to Members of Parliament reiterated the importance of the current steep reduction of expenditure as a measure to align expenditure to revenue.

The session concluded today with Mr. Rowland Brown from Cirrus Capital who shared information on the National Budget processes, Macro-economic stability and Rating Agencies and the growth-friendly fiscal consolidation programme.

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