Mwanamvekha unveils K511.3 billion Malawi provisional budget

Minister of Finance, Economic Planning and Development  Joseph Mwanamvekha has presented a K511.3 billion provisional  budget in Parliament  which allows Treasury to tap funds from consolidated account to carry on government services from 1st July  to 31st October, 2019.

Minister of Finance Mwanamvekha delivering the provisional budget for the 2019/2020 financial year-pic by Lisa Kadango.

Total revenue and grants are estimated at K410 billion, according to the budget.

Mwanamvekha, an economist and former banker,  said before September this year, the nation should have the full fiscal plan in place to ensure all aspects of development are implemented as per government design.

He said the provisional budget, as provided for in the Constitution, has a maximum timeframe of four months, giving room for government to prepare a full budget.

Mwanamveka said the provisional budget have  information on statutory expenses such as salaries, pensions and gratuities.

“Before the end of September, we need to have a full budget to be approved by Parliament and passed and the provisional budget of four months will form part of the full national budget,” said the country’s purse keeper.

He said the provisional budget has been necessitated by the late constitution of the Cabinet, which President Peter Mutharika appointed on June 19.

Mwanamvekha, who once worked as Secretary to the Treasury,  moves from Agriculture, Irrigation and Water Development where he was credited with boosting food security through surplus harvests of maize, Malawi’s staple grain.

He replaces Goodall Gondwe, who has been the Minister of Finance, Economic Planning and Development for a decade. Gondwe is now President Mutharika’s chief economic advisor.

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Concerned citizen
1 year ago

Hon Minister, you are very welcome. Our country needs your assistance in review the taxes on local procudtion. These 90% excise are killing any industry we may have.

This compares with South Africa where a similar product is charge no excise for a similar product. How do we compete. How do we employ our young graduates.

Why, why, why.

Njolo mpilu
Njolo mpilu
1 year ago

Eeh masiku ake ano? Kumangopenyatu.
Ena kutupa nazo mimba
Kucepa miyendo
Linunda
Mawele
Kupuwazika nkhope ,khungu la mmaso manya
Ena tinkhope ngati mandazi odzaza bakin powder
Pot bellies ngati bobrov
Pa mw pamenepo.
Nanga conci akamagona timakaladi tamwa ciswemutu cigumula etc what do we expect!!!!
Mxiiiii
Wasting resouces aziyambe kuzidya geni za ma truck ,nkhuku.mxiiiii
It sucks

mtete
mtete
1 year ago

Just approve his budget without scrutinizing it. It won’t make a difference. 20% allocated to health, education, water and the likes. The rest, 80%, to be embezzled by DPP elite.

COPS
COPS
1 year ago

Can’t stop staring at the ministers picture. zosambasamba kapena bwanji???

Mwanamvekha
Mwanamvekha
1 year ago

A minister of finance amenewo??? kkkkkkk dzombe dzagwa m’bale. isokheeeeee nyapapi gavamenti!

Al-Fayeed
Al-Fayeed
1 year ago

Zoti mube ndi zingati pamenepa?

Njolo mpilu
Njolo mpilu
1 year ago

Zidyewe restraurant tsopano.skomo

NOSTRADAMAS
NOSTRADAMAS
1 year ago

budget yoti abeso iyi agalu awa.

Mbanji
1 year ago

He is one of the best performers he walks the talk together with Mhango former Transport Minister

MwiniMunda
MwiniMunda
1 year ago
Reply to  Mbanji

Mhango is the most corrupt. He gives fuel transportation business to Tanzanians at the expense of Malawian transporters. These DPP guys are getting kickbacks for doing this. Malawian transporters are closing down business because of these corrupt policies.

bishop
bishop
1 year ago

zizichitikatu zomwe mwazilemba mumabajetimo

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