The Ministry of Finance, Economic Planning and Development says it is satisfied with input from various stakeholders in the ongoing pre-budget consultation meetings for the 2016/17 Financial Year.
Minister of Finance, and Economic Development, Goodall Gondwe was speaking in Blantyre during a southern region pre-budget consultation meeting.
Gondwe said during the three consultative meetings that were held in Mzuzu, Lilongwe and Blantyre, stakeholders have given very productive contributions.
Said Gondwe; “In all the pre-budget meetings, stakeholders had suggested a number of areas of focus with a prompt action to be included in the next fiscal budget for 2016-2017.
“I promise that government will look into the issues and come up with a budget that would be acceptable to many people countrywide.
“Some ideas like discipline in budget expenditure and reduced borrowing appetite, government is already implementing because we realize that would in turn also have positive impact on exchange rate and interest rate positions.”
Institute of Chartered Accountants in Malawi (ICAM) Member of Taxation and Audit Committee, Audrey Mwale advised government to trim its high expenditure and borrowing appetite in 2016-2017 national budgets to ensure successful implementation of the national budget.
She said ICAM is aware of the numerous challenges the country is going through urging government’s 2016-2017 budget to be in line with the current environment.
“Fluctuations in interest rates are hurting hard. We suggest that there should be some stability and that can be achieved by controlled expenditure and debt levels,” she said.