Minister of finance and economic planning and development Goodall Gondwe says despite the promising economic performance witnessed half way through the 2016 – 2017 fiscal year, Malawians should not have immediate high expectations that the economy will be on track soon. Gondwe made the remarks Friday when addressing journalists after he presented his statement on […]
The message coming from Finance and Economic Planning and Development Minister Goodall Gondwe is a stern warning that is weathering an economic storm and the financial future is uncertain as he has said further reductions in budget expendiutre may be necessary in the second half o fthe 2016/17 financialyear. The country’s purse keeper is set […]
Malawi Parliament reconvenes in Lilongwe from February 6, 2017 to March 2 for the mid-term budget review, Speaker of Parliament Richard Msowoya has disclosed. “All Cabinet Ministers, deputy ministers and honourable members if parliament are summoned toattend the metting ar the time and place indicated until adjournment sine die and herein fail not,” a statement issued by […]
The World Bank says Malawi has high chances of getting budget support having made tremendous progress in public financial management. Visiting Vice President of the Bank responsible for Africa Makhtar Diop disclosed this when he met President Peter Mutharika at the Kamuzu Palace in Lilongwe. Diop disclosed that prior to meeting with the President, his […]
European Union (EU) could resume budgetary support to Malawi if the results of verification exercise of the agreed performance target is met. EU has engaged a team of independent consultatnt to take verifiactaion exercice on any evidence of achievements on the agreed targets it was given for the multilateral body to resume direct budget support […]
Germany has remained non-committal on resuming budget support to Malawi in the near future but assured that it is committed to continue supporting the people of Malawi on their path to sustainable development. Angered by ‘Cashgate’ corruption scandal which dates back from 2005 but uncovered between September and November 2013, Malawi’s major donors including Germany—who […]
Malawi’s biggest donor,Britain has rebuffed President Peter Mutharika’s plea to resume budgetary support to the impoverished country, until the government clamped “firmly down on corruption”. The southern African nation has been rocked by the plunder of public resources, known as Capital Hill Cashgate scandal since 2005 and corruption is seen worsening now. Mutharika sounded a distress call to the […]
Despite differences of religion, tribe, politics and allegiances in various sectors, many Malawians are displaying qualities of patriotism by positively contributing to the national budget in paying taxes. This is clearly showing now, almost three years after international donors withdrew all the 40 percent direct budgetary support they gave Malawi. Parliament authorised government to use […]
Malawi Parliamentarian had to do over time on Thursday to pas the Appropriation Bill 2016 clearing the proposed expenditure of K1 149 375 259 646 National Budget for the 2016/17 fiscal year starting July. After a gruesome scrutiny exercise in the committee of supply stage, which saw the budget being revised upwards by K7.7 billion, members […]
Minister of Finance, Economic Planning and Development Goodall Gondwe on Tuesday stood bold and refused to bow down to opposition legislators demand to increase the budget for Sports and Culture ministry. The members of parliament were demanding a 50 per cent increase on the K2 billion budget. However, Gondwe, who is always diplomatic when such issues arise, […]
Members of parliament on Monday afternoon took Minister of Finance, Economic Planning and Development Goodall Gondwe over government decision to buy eight vehicles for presidential convoy. This issue was raised when the legislators were scrutinising the K1.1 trillion national in a committee of supply. Gondwe defended the K906 million budget, saying there are a lot […]
Leader of the House George Chaponda has said the passing of the K1.1 trillion national budget is Thursday, June 30 amid fears opposition legislators are set to torpedo it in order to force the government give them K3 million each. Chaponda said from Monday, the House will enter into committee of supply stage where they […]
The chairperson of the Parliament’s Social Welfare Committee, Alex Major, has rejected claims that opposition lawmakers were acting in a manner to frustrate the passing of the 2016/17 National Budget by demanding their conditions of service to be implemented. Major said it was nothing more than distorted or concocted information that some members of Parliament […]
Malawi Congress Party (MCP) spokesperson on finance , Alexander Kusamba-Dzonzi, has faulted the K1.13 trillion 2016/17 National Budget which Minister of Finance, Economic Planning and Development Goodall Gondwe tabled in Parliament, saying it was unrealistic and unpromising, and would do nothing to overcome inefficiency and corruption rife in governance of the Peter Mutharika and his […]
Opposition People’s Party (PP) Spokesperson on Finance Ralph Jooma has said Malawi economy will remain in reverse gear, saying domestic borrowing will continue to soar, which will cloud out private sector and interest rates will go up making it impossible for the sector to expand. PP spokesperson on finance said this year’s budget clearly means […]
Opposition lawmakers have threatened to shoot down the National Budget unless government give them the General Purpose Fund (GPF) loans of K5 million each which they are supposed to repay between now and 2019. If all the 193 MPs get the GPF the total bill comes to K1.4 billion at the 40 percent rate the […]
The chairperson of the Budget and Finance Committee of the House, Rhino Chiphiko has said it is “not entirely right” to say that Malawi has not been receiving donor budget support. The World Bank and EU alongside other Western financial institutions and bilateral donors suspended direct aid to Malawi over widespread concerns over massive theft […]
Malawi Parliament on Wednesday continued to give tough time to government officials over the K1.1 trillion national budget with deputy chairman of Public Accounts Committee (PAC) Kamlepo Kalua claiming government officials are failing to defend the budget because it was drafted and designed by the IMF. “They seem not to know anything which is in […]