WINDHOEK, June 10 — Namibian Minister of Finance and Public Enterprises Iipumbu Shiimi on Friday reiterated the government’s commitment to transparency and public engagement in the budgeting process.
“Budget transparency assesses public access to information on how the central government raises and spends public resources. It evaluates the online availability, timeliness, and comprehensiveness of key budget documents using equally weighted indicators, scoring each country on a scale of 0 to 100,” Shiimi said during the launch of the Namibia Open Budget Survey 2023 at an event held in Windhoek.
Highlighting the importance of transparency, Shiimi stressed its correlation with stronger democracies, equity, and better development outcomes. He pointed out that countries with more open budgeting systems tend to have lower debt levels, improved debt management, and better credit ratings, which attract investment and reduce borrowing costs.
Moreover, Shiimi said increased public participation leads to more efficient resource allocation towards national priorities, including human capital development and Sustainable Development Goals.
Regarding the progress made in the 2023 Namibia Open Budget Survey, Shiimi acknowledged the improvement in rankings but emphasized the need for continuous efforts to ensure all citizens have access to budget information and can participate fully in the budgeting process.
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