Geingob launches NDP5

President Hage Geingob launching the NDP5 at the State House, Windhoek Namibia today. (pic: Namibian Presidency)

Magreth Nunuhe

Windhoek – President Hage Geingob has today launched the fifth National Development Plan (NDP5), an economic blueprint that is aimed at economic growth.

The NDP5’s goals over the next five years are to achieve an inclusive, sustainable and equitable economic growth; build capable and healthy human resources; ensure sustainable environment and enhance resilience; and promote good governance through effective institutions.

Among the highlights is government’s ambitious resolute to build 200 000 jobs over the entire NDP5 period with the secondary sector expected to contribute about a third of the total employment, while 12 percent of that is projected to come from the construction sector.

The primary industries are estimated to contribute the biggest chunk of employment of 56 percent with agriculture as the largest employer.

The unemployment rate is projected to remain high until 2021/2022 and thereafter drops below 20 percent as the NDP5 initiatives take full effect, according to the National Planning Commission, the implementing agency of the National Development Plans.

In addition, balance of payments are expected to improve, imports are projected to decrease as local procurement initiatives mature, while a balanced budget is expected towards the end of NDP5.

May 2017
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