Maria David
THE social grants for old age and disability will be increased from N$1,400 to N$1,600 per month, effective on 01 April 2024.
This announcement was made by Minister of Finance and Public Enterprise, Iipumbu Shiimi, during the budget tabling of the 2024/25 financial year in Parliament on Wednesday.
According to Shiimi, they fully recognize the dream of the late President Hage Geingob for a significant increase in the Old Age Grant, but they cannot afford to deliver on his dream in a single financial year.
Late President Geingob had expressed his hope that the old-age pension grant would be increased to N$2,000 or more before he left the presidential chamber.
Currently, over 200,000 pensioners receive the monthly old-age grant.
“We will continue to work towards it with gradual increases over time, as resources permit. In addition,” he said.
He added that the budget of the Ministry of Gender, Poverty Eradication, and Social Welfare has increased by 23.2 percent to N$8 billion in FY2024/25.
Moreover, he indicated that the budget includes N$824.7 million to maintain the real value of the social safety nets in the face of high inflation and given the high dependence ratio.
“We have made provision to increase the frequency of food distribution to marginalized communities at a cost of N$170 million, and N$284.5 million to ensure full coverage of the Orphan and Vulnerable Children Grant,” he concluded.
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