Officials from the Ministry of Finance were on Tuesday tossed from one parliamentary committee to another and finally sent back to prepare well in a new system of scrutinising and vetting the national budget which, it seems, both the parliamentarians and government officials do not understand. Budget and Finance Committee chairperson Rhino Chiphiko (MCP) said […]
Opposition People’s Party (PP) Spokesperson on Finance Ralph Jooma has said Malawians should brace themselves for tougher economic times ahead, saying there will be no miracle for the healing of a limping economy, according to 2016/17 National Budget statement presented to parliament. Finance, Economic Planning and Development Minister Goodall Gondwe on Friday tabled in Parliament the K1.2 […]
Britain has ruled out resumption of budgetary support to Malawi despite the southern African nation qualifying for IMF extended credit facility. British High Commission to Malawi Michael Nevin said this after Finance minister Goodall Gondwe presented a K1.2 trillion national budget. “It is not only in Malawi, we are moving away from this type of […]
Malawi opposition says Finance and Economic Planning Minister, Goodall Gondwe’s tough love for the nation in the next financial year has been commended for coming out bluntly to concede that the country’s economy is in crisis but described the 2016/17 financial plan presented on Friday as “deficit budget” and pro –IMF. Malawi Congress Party (MCP) […]
Malawi should see economic growth pick up to 5.1 percent from about 3.1 percent, Finance Minister Goodall Gondwe told parliament citing International Monetary Fund (IMF) as an authority for such projections. He said the country has been affected by drought caused by the El Nino weather pattern. “Mr Speaker, Sir, as projected by the IMF, […]
Minister of Finance and Economic development Goodall Gondwe Minister Goodall Gondwe offset the bitter taste of a national budget overshadowed by a worsening economic turmoil by delivering a headline-seeking financial game plan the government is proposing to implement in the 2016/2017 financial year. Delivering his budget statement in Parliament on Friday, Gondwe noted that the […]
Goodall Gondwe, the Finance Minister, has said in his budget statement that Malawi Revenue Authority (MRA) is expected to collect K748 billion in order to finance the 2016/17 budget and that the nation should expect rise in taxes. Gondwe said like in other SADC countries much emphasis is in Value Added Tax and Malawi government […]
Finance Minister Goodall Gondwe has unveiled a K1.2 trillion national budget up from K917 billion last year as the country increasingly continue to face huge economic problems and persistent food shortages due to natural disasters. Good news, however is that Gondwe assured the 193-strong House that the World Bank and European Union will resume budgetary […]
Opposition parties say they will ask the government to account for the national budget passed last year, saying poverty among Malawians is worse than ever before. The major political parties said the government should give a convincing break down on how the money has been used. Leader of opposition Lazarous Chakwera said they will demands […]
Malawians should expect somehow poor services from government as major revenue collector, the Malawi Revenue Authority (MRA) has last month missed its target by K132 billion. This means the government coffers will be short by that amount therefore Capital Hill will likely cut budgets of some ministries and government departments including health and education. A […]
The Ministry of Finance, Economic Planning and Development says it is satisfied with input from various stakeholders in the ongoing pre-budget consultation meetings for the 2016/17 Financial Year. Minister of Finance, and Economic Development, Goodall Gondwe was speaking in Blantyre during a southern region pre-budget consultation meeting. Gondwe said during the three consultative meetings that […]
President of Economics Association of Malawi (Ecama) Henry Kachaje has called for “radical reforms” in the 2016/17 National Budget while Institute of Chartered Accountants in Malawi (Icam) has urged government to review some tax policies to cushion Malawians from the economic turmoil. In his presentation titled Financing, Transformation and Productivity during the Blantyre leg of […]
Malawi still needs foreign aid or bilateral assistance that finances the development budget of the Malawi financial plan annually, Minister of Finance, Economic Planning and Development Goodall Gondwe has said. Foreign donors keep withholding direct budget support since October 2013 over concerns of Cashgate—the systematic plunder of public resources at Capital Hill. Gondwe has since […]
Business captains have asked the government to reduce excise duty on beers locally brewed saying the 40 per cent taxes are choking the beer industry. Malawi Confederation of Chambers and Industry (MCCI) chief executive officer Chancellor Kaferapanjira said this Tuesday in Lilongwe when Finance Minister Goodall Gondwe held pre-budget session. Kaferapanjira said the 40 percent […]
Parliament on Friday passed four votes amid great critics from the opposition who demanded proper explanations in why other bills have been allocated more money and others less. The votes which included the National Assembly, Office of President and Cabinet (OPC), National Local Government and the Ministry of Sports and Culture were all passed one […]
Finance Minister Goodall has said President Peter Mutharika has put on hold plans to construct a K110 million banqueting hall at Kamuzu Palace in Lilongwe because of the volatile economic situation prevailing in the country. Gondwe said this in parliament Thursday as members of parliament were about to start debating on a K5.1 billion State […]
Government has made a dramatic cut on the budget of Kamuzu Memorial Park from K150m to K50m prompting Kasungu south east parliamentarian to demand that government takes away the remaining money as it will not have an impact on the development of the resting place of the first president of Malawi. This was after Finance […]
Malawian President Peter Mutharika on Wednesday made a frantic appeal to African Development Bank (AfDB) to resume budgetary support. The surprise plead for budgetary support came as Minister of Finance Goodall Gondwe told parliament almost same time that the IMF team is now in the country but his preliminary meeting with the institution shows Malawi […]