Joseph Mwanamvekha has delivered his first Budget as Minister of Finance, Economic Planning and Development. The 2019/2020 budget is pegged at K1.7 trillion up from K1.4 trillion in the 2018/2019 budget. These are the key points of what he has said.
K101 billion to the health sector – K10.9 billion for drug procurement in central hospitals, K16 billion for drugs in rural areas.
K 167 billion for the Agriculture sector up from K150 billion in the 2018/2019 financial year.
K35.5 billion allocated for the Farm Input Subsidy Program – for 900,000 beneficiaries.
K178.8 billion to the education sector up from K102.2 billion in the 2018/2019 financial year.
K88.3 billion for transport sector up from K82. 8 billion in the 2018/2019 financial year.
K600 million to construct houses for people with albinism
K400 million for the implementation of the action plan for the protection of people with albinism.
K1.6 billion for construction of Nyasa Big Bullets and Be Forward Wanderers stadiums.
K200 million for construction of the indoor netball court.
K4.5 billion for the youth internship program. – 2,000 young people will be recruited this year.
Salary increment of 10-15 % for civil servants
K2.5 billion allocated for rehabilitation of the Chileka airport runway.
K40 billion for energy and mining sector, last year the sector was allocated K21.7 billion.
K14.2 billion for trade and tourism sector up from K12.7 billion which was allocated in last year.
3 teachers training colleges to be constructed.
15 primary schools in urban centeres. 250 secondary schools.
100 girls hostels to be constructed
10,000 houses for all security agents,.4,000 for MPS, 4,000 for MDF, 1,000 for immigration, 1,000 for Malawi Prisons.
Constituency development fund raised from K25 million to K30 million
Taxable band increases to K45, 000– from K35,000
K9 billion for university students loans meant for needy students – from K8 billion