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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angoni
Guest

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

Eliam b
Guest

I agree with u @ Sibweni N01

Kwanu Kuyenda yani
Guest

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”….

Paul Vida
Guest

Panyopanu nonse mukusapota budget yopusayi.

Bolingo
Guest

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.

ibrahim makwati
Guest

kubadwira kumalawi ndi chiphinjo chachikulu

Chief Cashgater
Guest

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

jjk
Guest

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

Bristol
Guest

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.

chembwiye une
Guest

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?

wpDiscuz

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