Spokesman for finance in the opposition People’s Party (PP), Ralph Jooma has said they will demand explanation on the K737 billion (US$1.6 billion) budget expenditure which they will critique before allowing a debate on additional allocations.
Parliament in the capital Lilongwe resumes sitting Monday to review the first six months of implementing the 2014/15 National Budget .
Jooma said they expect Minister of Finance, Economic Planning and Development Goodall Gondwe to explain the expenditures and “how much has been collected in terms of tax and how much has government received in form of donations against what it has at the moment.”
He said they were also eager to know the current stand on domestic borrowing following reports that government has already borrowed about K59 billion from the Reserve Bank of Malawi (RBM).
“To us K59 billion within six months is just a lot of money which needs proper explanation considering that we have been hearing of improved tax collection over the past months. Unless all these are fully explained and we are convinced it will be difficult to begin debate on increments the finance minister will bring before the House,” said Jooma as quoted in the press.
The National Assembly is also expected to consider creating a budget line proposal to facilitate the work of the newly established Office of the Director of Public Officers’ Assets, Liabilities and Business Interests Declaration.
According to assets director Christopher Tukula, his office is asking for about K750 million to implement its programmes.
The House will also debate the bill on the Reserve Bank of Malawi which is proposing to cordon the institution off the influence of the Executive in response to the voices on fiscal policy and management practices who have suggested that the central bank would be more effective in delivering on its mandate without Executive intrusion.