The Finance Ministry has directed that no new tender contracts be awarded until the national budget is reviewed. The mid-year budget review is expected to take place next month. The cancellation follows the recent down-grade of Namibia’s economic outlook from stable to negative by the Fitch credit ratings agency. Nampa reports that Finance Minister Calle Schlettwein issued a directive to the Tender Board of Namibia on Thursday, saying the awarding of new tender contracts and feasibility studies or surveys for new tenders should be stopped immediately. The directive said this was in line with the budget policy stance for the 2016/17 mid-year budget review and the 2016/17 -2018/19 Medium Term Expenditure Framework (MTEF). The Ministry directed that no tender awards should be made until the 2016/17 budget review and the re-prioritisation of capital projects was finalised.