OSHAKATI: Minister of Finance and Public Enterprises, Iipumbu Shiimi, has announced an increased in old age and disability grants social grants from N.dollars 1 400 to N.dollars 1 600 per month, effective 01 April 2024.
Shiimi was speaking during the tabling of the 2024/25 National Budget in Parliament on Wednesday.
According to Shiimi, government fully recognises the dream of their departed President Hage Geingob for a significant increase in the old age pension grant, however, they cannot afford to deliver on his dream in a single financial year.
‘Nonetheless, we will continue to work towards it with gradual increases over time, as resources permit,’ he said.
Moreover, Shiimi indicated that the budget for the Ministry of Gender, Poverty Eradication and Social Welfare has increased by 23.2 per cent to N.dollars 8 billion during the current financial year.
He added that the budget includes N.dollars 824.7 million to maintain the real value of the social safety nets in the face of high inflation and given
the high dependency ratio.
Additionally, Shiimi said that government has made provision to increase the frequency of food distribution to marginalised communities at a cost of N.dollars 170 million, and N.dollars 284.5 million to ensure full coverage of the Orphan and Vulnerable Children Grant.
He noted that the vote will absorb N.dollars 24.5 billion.
Source: The Namibia Press Agency