Treasury officials say the government will operate on provisional budget as its financial calendar has been disturbed by the just ended May 21 tripartite elections.
Spokesperson for ministry of finance Davies Saddo says in addition to the elections, there is need to orient the new members of parliament on the national budget and as public finance related matters.
“In addition, the President should appoint the Minister of Finance who will do the pre-budget consultations with others stakeholders. This process can take time,” said Saddo.
There are 130 new members of parliament in the 193-strong House and 65 are old faces.
Malawians are yet to see the new minister of Finance, is it the same Goodall Gondwe who last year said he needed to retire or the nation will have new blood holding the national purse.
Meanwhile, according to figures from the Reserve Bank of Malawi (RBM) contained in the Financial and Economic Review, Treasury has continued to spend more than the revenue generated in the 2018/19 fiscal year amid declining revenues.
Former minister of Finance, Economic Planning and Development Goodall Gondwe early this year confirmed that there were cases of over expenditure that occurred.
But he said the expenditures were necessary for some programmes not to stall, among them elections and the 2018 Population and Housing Census.
Finance and corporate governance strategy professor at the University of Malawi’s The Polytechnic, James Kamwachale Khomba, earlier observed that every government, including developed nations, have deficits, but if used correctly, they can be a catalyst for development.Follow and Subscribe Nyasa TV :