Gondwe says K691bn used from K1.3 trillion budget: Malawi army, police and Fisp ‘overspent’

Minister of Finance and Economic Planning Goodall Gondwe has told Parliament that  government has spent less than what was projected in the 2018/19 National Budget.

Goodall Gondwe:  Adjustments in the 2018/19 National Budget

Delivering a Mid-Year Budget Review Statement in Parliament on Friday, Gondwe said of the K1.3 trillion projected budget for the first part of the 2018/19 financial year, K691.8 billion has been spent as of December 2018.

Gondwe told the House that Malawi Defence Force, Malawi Police Service (MPS) and the Farm Input Subsidy Program overspent than expected.

According to MDF and MPS had to overspend their budgets since they had to deal with unplanned circumstances in line with elections while the FISP program experienced some technical glitches that needed additional financial attention.

Government’s purse keeper also announced downwards revision of ain the 2018/19 National Budget in view of continued delay by some donors to honour their budget support commitments.

When he presented the 2018/19 budget statement in May last year, Gondwe said with optimism that revenues and grants were projected at K1.3 trillion and that grants were programmed to reach K209 billion of which K60 billion was expected to come from the World Bank in form of budget support.

The 2018/19 budget projects a real gross domestic product (GDP) growth rate of 4.1 percent in 2018 and 6.0 percent in 2019, coupled with an average inflation of around seven percent.

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Sleeping beauty
Sleeping beauty
2 years ago

Chaika – Spooni – partnership shall be exposed in may
Both to be arrested

Central
Central
2 years ago

Seriously you’re taking advantage that auditors are not allowed to audit mdf accounts………………….. why is it a norm that year in year out mdf over spend? God have mercy! Some ….gates may be on the cards sure………… sinanga ndi chaka cha chisankho!

Cashgate1
Cashgate1
2 years ago

So the MDF & MPS Budget was used for MEC budget? How is that possible? Something not adding up.

Bingu wa Mutharika
Bingu wa Mutharika
2 years ago
Reply to  Cashgate1

Did you understand the article? The overspent to deal with “unplanned circumstances in line with elections” Is MEC mentioned in this context? Remember Mr. during elections many things do happen and the policea nd army must always be ready to deal with any situation.In that case they boost up their security measures and that can involve extra financing.This has nothing to do with MEC

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