President Nandi-Ndaitwah says pension increases must wait for future budget plans. She told parliament that the government cannot raise old-age grants from N$ 1,600 to N$ 3,000 this year. The president made this decision during her first address to the nation.
The government chose to focus money on youth programs instead of raising pensions right away. Officials plan to build sports facilities with the funds. They hope these projects will create jobs for young people. Money will also go toward youth empowerment programs. The president called this choice difficult but necessary.
The administration's goal of increasing the pension is to do so within the next three to five years under the 2025/26 budget framework. The president expressed support for gradually raising the pension amount. She believes the staged approach better fits with national finances. Budget constraints forced leaders to make tough spending choices.
The government chose to focus money on youth programs instead of raising pensions right away. Officials plan to build sports facilities with the funds. They hope these projects will create jobs for young people. Money will also go toward youth empowerment programs. The president called this choice difficult but necessary.
The administration's goal of increasing the pension is to do so within the next three to five years under the 2025/26 budget framework. The president expressed support for gradually raising the pension amount. She believes the staged approach better fits with national finances. Budget constraints forced leaders to make tough spending choices.
