Mbuende clarifies oil borrowing remarks after IPC criticism
The National Planning Commission (NPC) has clarified that the recent remarks on borrowing against future oil and gas revenues were taken out of context. The commission says the government will only factor in oil income into its fiscal planning once projects reach a final investment decision (FID). NPC director general Kaire Mbuende’s clarification follows criticism […] The post Mbuende clarifies oil borrowing remarks after IPC criticism appeared first on The Namibian .
The National Planning Commission (NPC) has clarified that the recent remarks on borrowing against future oil and gas revenues were taken out of context. The commission says the government will only factor in oil income into its fiscal planning once projects reach a final investment decision (FID).
NPC director general Kaire Mbuende’s clarification follows criticism from the Independent Patriots for Change (IPC), which accused Mbuende of proposing that Namibia should borrow against future oil revenues despite uncertainty surrounding the sector.
Mbuende yesterday said government borrowing is guided by prudent fiscal management, debt sustainability and long-term development priorities, adding that borrowing decisions are based on projected performance across the broader economy rather than a single sector.
