President Peter Mutharika has announced that he has set-aside K8 billion for youth loans in the 2019-2020 budget.
Minister of Finance, Economic Planning and Development Joseph Mwanamvekha tables his maiden fiscal plan in Parliament in Lilongwe Monday after noon.
But on Sunday during a whistle-stop meeting at Ngabu Trading Centre, Mutharika saidthat the money is meant for all youth in the country.
He said it is high time they should start their small businesses in order to be financially independent.
The President said regardless of party affiliation everybody would be eligible to access loan from the K8 billion loan scheme for the youth.
“When I talk of eliminating poverty I am serious. This is the reason the country is in top 10 among over 40 countries in Africa that are doing good on poverty eradication,” Mutharika pointed out.
The budget meeting is the second one in the 48th Session of Parliament inaugurated in June this year with a presentation of a four-month provisional budget.
According to a statement from Parliament, after the Finance Minister’s budget presentation today, the House will break into cluster committees for 10 days to allow members to scrutinise the budget allocations.Follow and Subscribe Nyasa TV :