Parliament Monday passed the appropriations bill that will enable Government start spending money allocated to various ministries and departments as part of the 2013/14 national budget passed last Friday.
The 2013/14 national budget was presented in the House on Friday May 24 by Finance Minister Dr. Ken Lipenga and after three weeks of debate and voting, the K630.5 billion budget was passed with little amendment.
The passing of the appropriation bill concludes debate on the 2013/14 national budget and Speaker of the House, Henry Chimunthu Banda thanked the house for their commitment in ensuring that the budget and the appropriation bill were passed.
He said, “I would like to congratulate the motion mover (The minister of finance), the Government side and the entire House for passing resources provided to the people of Malawi in the 2013/14 fiscal year.”
According to the budget statement, domestic revenues are projected at K363.1 billion, representing 60.0 percent of total revenue and grants, while K240.3 billion are donor grants, representing 40.0 percent of total revenue and grants.
Of the total domestic revenues, tax revenues are projected at K328.1 billion while the non-tax revenues are estimated at K35.0 billion while grants are expected to increase by 36 percent from K177. 4billion estimated for 2012/13 financial year to K240.3 billion.
Constraints in the resource envelope means the budget has prioritized key sectors namely Agriculture and Food Security, Social Support and Protection, Education, Health, Transport, Tourism, Mining and Energy which Government believe would make an impact on poverty reduction and are in line with the Economic Recovery Plan (ERP) and Malawi Growth Development Strategy II.
Another key allocation in the budget has gone to the Malawi Electoral Commission (MEC) towards the preparations of the 2014 Tripartite elections.Follow and Subscribe Nyasa TV :