Malawi changes fiscal year to start April 1
Malawi Government has changed its fiscal year from the one that starts on July 1 and ends on June 30 to one that will start on April 1 and end on March 31.
Secretary for Economic Planning and Development and Public Sector Reforms Winford Masanjala has disclosed the change in a memo to all heads of government ministries, departments and agencies dated December 22, 2020.
According to the memo, the 2020//21 Fiscal Year will be maintained on the current July-June calendar.
The 2021/22 Fiscal Year will be shortened to nine, commencing on July 1, 2021 and ending on March 31, 2022.
The 2022/23 Fiscal Year and all subsequent fiscal years will commence on April 1 of one year and end on March 31 of the following year.
“To this end, Government will constitute a taskforce that will review all affected laws and regulations; monitor the re-configurarion of the central Government’s information management systems, and monitor the synchronisation of systems across the public sector,” reads the memo.
Government said ir has observed that budgets appropriated in June and implemented from July are late for timely provision of resources for importing agricultural inputs.
“To ensure that the country has fertilisers and other inputs by the start of the agricultural production season, the import logistics require that the process be funded and commence much earlier. In addition, an April-March fiscal year will facilitate early funding for ADMARC and the National Food Reserve Agency (NFRA) and capacitate these institutions to compete better in purchasing smallholder agricultural produce,” Masanjala said.
The best is January to December fiscal calendar. Zinazo nzandale. Shatapuuuuu Nonse Alliance!!
It makes sense
I didn’t like the way Zodiak reported the issue: They just repeated what the Govt said on the issue. A serious media house would provide context, i.e. report what the Govt has said and briefly but concisely go into the details why the July to June fiscal year was adopted in the first place. A budget can start from any date, what is important is to consider when important events occur and properly plan and execute them. For example, the AIP has been a disaster because the Tonse Alliance did not check important issues long before the rains came. Testing… Read more »
The way how you have explained has just taken like it’s a family not as a Nation. Your finger to Rinse Alliance on Fertilizer is just a piece of thought you wanted to have. First check the time which the Tonse grabbed the seat. From there go to when the fiscal year start, you see, Kodi upusaku ndi inu nomwe? Don’t take Malawi as your family where you can just say this and that! You would be some one happy if the Fertilizer issue was shifted to this new fiscal year of Tonse Alliance right? These guys have tried their… Read more »
Kuganiza kumeneko ma vendor amatibera kwabwera chifukwa amakhala kuti afika kale pa market, good move keep it up.
It makes sense considering zat farm inputs accessibility will b on time Osati mvula yayamba Anthu ma inputsa asanagule
Good move
What would that bring on my food table?
You dont follow issues,you are a cadet.
So every one who fails to follow issues is a cadet, a DPP so exactly? Psychologically which part of the brain does a cadet brain belong?
The Chimpanzee! Nkhwele.
Nothing. Only smart people would benefit greatly from this smart move
Good maganizo 👊🏿🇲🇼
How will this change help in assessing the crop situation and measures that will be made to mitigate the effect of draught? UDF made the same change but reverted to the old financial calendar after realizing that the change was worsening the situation.
I do not think you follow this properly, ‘Liars exposed”. UDF changed from April 1 to March 31; and not as you are alluding. The current change in fiscal year has made the government to change to the former dates when things were operating effectively. Go back to your history.
Wrong. No point. It is udf that changed the calendar from April to July
it does not matter where you put your financial year, what matters is mindset change and removal of all beaurocracy in all government systems.
Very true. Something tells me kuti anthuwa awononga kale ndalama zambiri for 2020/2021 budget, they know kuti sakafika ku June 2021 opanda a big deficit. This is therefore a cover up plan as they were still on testing the waters. I will be convinced if the three months budget, April to June 2021 will be refunded to treasury, otherwise these three months will receive double funding. Just my thoughts as a tax payer
The gap deficit will not go away regardless.
Koma mwavetsa bwino zalbedwazi kapena mwawelenga Pena, this 20/21 will not change because the Government will need time to check some institution which seems to be affected, but the 21/22 will be shorter. Fwetseki!