Budget hopeless, argues Malawi economists, opposition

Economists and opposition spokespersons on finance on Friday reacted to a 2015/16 budget statement delivered by Finance, Economic Planning and Development Minister Goodall Gondwe in parliament, saying the financial plan in “hopeless” and “not so inspiring”.

Henry Kachaje: Budget not inspiring hope

Henry Kachaje: Budget not inspiring hope

The opposition Malawi Congress Party (MCP) spokesman on finance Joseph Njobvuyalema said in an interview after budget presentation that Gondwe’s forecast of 7 per cent economic growth as ridiculous.

Njobvuyalema said the Budget marked the end of the government’s claim that there is an economic boom that will soon translate to a full circle of economic recovery for the country to achieve sustained inclusive growth and development.

He said: “After today’s Budget, many poor Malawians will be paying more through tax while ruling class pay less and abuse more.”

Njobvuyalema attacked the government for failing to help people struggling with the rising cost of living, insisting there had been no progress on the economy.

“This is the type of budget that will see the poor becoming poorer and the rich getting richer,” said  Njobvuyalema.

People’s Party chief whip Ralph Jooma, a former economic planning minister, said Gondwe’s Budget “can’t be believed.”

But ruling Democratic Progressive Party (DPP) Chief Whip, Henry Mussa, parried the criticism, saying they are s “premature and mischievous.”

Economist Thomas Munthali has since observed that the DPP administration is “completely struggling” and does not know “where and how to get the money for the budget.”

President of the Economics Association of Malawi (Ecama) Henry Kachaje noted that the budget falls short of a “transformational agenda” that most people hoped to hear from Gondwe.

Consumer right activist John Kapito also trashed the budget and branded it “not inspiring,” saying consumers will most likely bear the blunt of most tax measures outlined by Gondwe

However, the International Monetary Fund (IMF) Country Representative Geoffrey Oestreicher said government seems to achieve a “credible balance” between social and development spending in the new budget, which he said will help the domestic economy attain macroeconomic stability.

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23 thoughts on “Budget hopeless, argues Malawi economists, opposition”

  1. angoni says:

    I for one would like to see figures. Been out of touch for a while. But a budget is about projections in figures. I don’t see any figures in the article or comments. Let us tackle issues right bwanas n donnas. Will try to get a copy of the budget to make a reasonable comment

  2. Eliam b says:

    I agree with u @ Sibweni N01

  3. Kwanu Kuyenda yani says:

    Ndimasangala ndikamaona wa DPP akulira ndi maluzi ine wa opposition ndikudyelera m’boma momwemo…Ndimangoti ” mmmm umaona ngati wakhaulira ndani pa 20 May paja?, lero taonatu ndikudyelera ndine ndi vote yako ija iwe ukungokanda pamenepo”….

  4. Paul Vida says:

    Panyopanu nonse mukusapota budget yopusayi.

  5. Bolingo says:

    Onanu timakuuzani, misonkho ndiyokwela kale more than tyms 2 in other subsahara countries, koma mukuonjezanso. how can u atract investers? nkhalamba izi izozo kwao kunayela kale.

  6. ibrahim makwati says:

    kubadwira kumalawi ndi chiphinjo chachikulu

  7. Kaya zanu izo ife mbava za m’boma tungomwetulira kuti mwetumwetu tiziphwasule ndalama zimenezi….mpaka 901 billion….ayi kulemela kulipo

  8. jjk says:

    Zikuoneka akuti pamenepa zavuta ndipo madzi afika nkhisi. Mwina asogoleli sakuziwa kuti uphawi wafikaoati muno m’malawi chifukwa misokho yomwe akuonjezelayo ndiyokwela kale.

    Ndikuona kuti kunali kwabwino kipereja mwayi kwa ena kuti athandize boma popereka upangiri kwabwino omwe boma linga chite kuti chuma chathu chiyabe kuyenda bwino ngati kale

  9. Bristol says:

    I disagree with those who say the budget is trash. There are some good news for Malawians when you look at some tax measures the Govt intend to introduce for the yea 2015/16. Let’s avoid commenting negatively on the entire budget.

  10. if phones sms and internet tarrifs are hiked, then whats how can telecommunication be ehnanced? clueless and barbaric. some people are good at clapping hands at every stupid move. the question z : wl this impact the malawians? what impact?

  11. Biyisikolo says:

    IMF and World Bank know that DPP through the real Lomwe President Bingu cashgated K92 billion which benefited only the real Lomwes including but not limited to BINGU, APM, MULI, MWANAMVEKA, CHARLES MATABWA, HENRY MUSA, KEN LIPENGA, PATRICIA KALIATI et al while the Chewa, Yao, Tumbuka, Nkhonde etc were and are second citizens in this country. IMF and World Bank please don’t give these thieves money they are blood sucking satanists that don’t care that people are languishing in poverty.

  12. Chikopa says:

    Ma economist apa malawi ndi mcp mwamumva mzunguyo? inu ma paper anu mumagwilisa ntchito likasa kuti muwapeze ? Pitala anakupangisa manyazi chakachatha mutatiuza kuti mukuona kwacha ikugwa kwambiri, apa zikuoneka mwayambiranso, izeki sananame kuti mzungu ndi mzungu

  13. MCP says:

    Mzungu wa IMF akuzimvetsa pamene enawo sakuzimvetsa ndiye mukuganiza kuti akadati chiyani kkkkkkkk. Bravo Peter Mutharika government, running a country without donor support for one full yr is not a joke. This has never happened in Malawi b4. The country is being run by intellectuals indeed

  14. austin bread says:

    Think abt the poor who pay tax everyday

  15. calvin mazengera says:

    I think the bottom line in a zero donor budget is achieving a balance between social and development issues but I stil argue that the government should do more on social,,,,like promoting social protection so that the majority of malawians who are chronically poor are relieved from their condition and lastly tax balance, thus the rich should at least pay more than the poor.

  16. Mbwiye wofatsa says:

    We know nothing about economy so let’s leave those in office to do their plans and we need to assist them if possible to attract the attention of most viewers.

  17. bwalero says:

    Am tired with MCP

  18. Pepani says:

    Vuto la ma economist a ku Malawi ndi loti mumaika ndale patsogolo and profession pambuyo
    Mzungu wa IMF wakuchititsani manyazi taonani.

  19. nobel says:

    We are watching ; let that transform our cost of living. Aren’t we getting poorer and poorer? How about the Lhomwes, Mullis through MSB?

  20. wokwiya says:

    Trashinb without solutions is also a first grade trash. The budgetary process is consultative and where were you to provide input into it? Some people are naturally wide and loud mouthed to critise.

  21. Ineeeeeeeoooooooo says:

    Ok

  22. eketi omora says:

    These politicians are selfish. They want to collect money from every possible angle, whilst killing our hopes and vision. We are in a dungeon of fire. Every time the budget if being presented we hold on to our fears. The only time we enjoyed was when Chikaonda was MF. At least we were considered, but these people are ruthless and they don’t care. 10% excise on texting? Mxxiiiii

  23. Sibweni says:

    We Malawians, we are good at criticising. We dnt want to tell the truth, alwys at the negative side. WHY?

Comments are closed.