Malawi plans to change gov’t’s fiscal year

Plans by the Malawian government to change from the current July-June financial year to the months of April and March grabbed headlines in the Malawi press on Monday.

The Nation carried a story in which Finance Minister Goodall Gondwe said the government was considering changing its fiscal year so that it commences in April and ends the following March.

Gondwe:  Change
Gondwe: Change

Gondwe is quoted as saying the country has been running on national budgets that cover the period July 1 to June 30, a circle that he said was negatively affecting the annual procurement of agricultural inputs and government spending when it comes to electoral years.

According to him, President Peter Mutharika’s administration intends to realign the financial year with the needs of the predominantly agricultural economy.

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