Malawi which is currently mauling over how to close financing gaps in the 2014/2015 national budget due to aid freeze, is again faced with another challenge of dealing with the ever soaring debt stocks now standing at K320 billion. The current debt stock means that the country has accumulated more than K100 billion debt just […]
With only two weeks before commencement of the national budget session of Parliament the Malawi Government is under enormous pressure to find enough resources to fully fund the whooping K743 billion 2014/15 budget. Minister of Finance Goodall Gondwe and his team are spending sleepless nights to convince the donor community to bring back their support […]
Malawians will have a cheer from the national budget due to be presented next months as government plans to reduce import duty on cars by 22 percent, Nyasa Times understands. If the proposal sees the light of day, Finance Minister Goodall Gondwe will present it in the national budget during the parliament sitting scheduled to […]
The World Bank has failed to make a commitment on whether the global multilateral development bank could render direct budget support to Malawi for the troubled 2014/15 National Budget. “We are still looking at budget support and we are discussing with the government in the context of Common Approach to Budgetary Support (Cabs). So, that […]
Malawian UK based governance activist Ahmed Dassu has tipped Minister of Finance Goodall Gondwe to consider introducing ‘windfall tax’ collected from the two sectors of the economy, which has benefited most from government budgets – the successful bidders of contracts to supply the government going back to 1994 and the mining companies which exploit the country’s mineral […]
Budget session of Parliament will commence on September 1 and run through to October 3 2014 when legislators will consider and pass the first budget of the Peter Mutharika government. In June, Minister of Finance, Economic Planning and Development Goodall Gondwe presented to Parliament a supplementary budget to provide bridging finance for the government following […]
Malawi Government is looking towards implementing punitive tax measures in a bid to close the 2014/2015 huge budget deficit gaps emanating from the decision by its partners not to support the national fiscal plan. Following the aid drought which will result in certain sectors suffering during the implementation of the budget, government plans to broaden […]
The opposition Malawi Congress Party ( MCP) is demanding an explanation from the Minister of Finance on the increased budget figures for the 2014/15 financial year. Minister of Finance, Economic Planning and Development Goodall Gondwe said at one of the consultations on budget that this year’s budget is expected to rise to K743 billion. But […]
Plans by the Malawian government to change from the current July-June financial year to the months of April and March grabbed headlines in the Malawi press on Monday. The Nation carried a story in which Finance Minister Goodall Gondwe said the government was considering changing its fiscal year so that it commences in April and […]
An economic expert at the CCAP owned University of Livingstonia has spoken against the just ended pre-budget consultations which were organized by the ministry of finance, saying they are a waste of time and resources. Government has been conducting the pre-budget consultations in all the regions of the country to solicit views, contributions and inputs from all […]
Malawi’s developing partners have put their foot down refusing to bail out the country on its bid to raise a K200 billion 2014/2015 budget deficit which is aimed to support the troubled health sector. The country’s Minister of Finance, Economic Planning and Development Goodall Gondwe recently announced that the 2014/2015 budget is expected to be […]
Professor of Economics at Chancellor College, constituent college of the University of Malawi (Unima), Ben Kaluwa has backed Minister of Finance Goodall Gondwe’s budget plan for 2014/15 fiscal year, saying 16 percent increase from last budget is in line with the country’s economy.National pre-budget consultation meetings began last Thursday and Finance Minister has presented the […]
The Economics Association of Malawi (Ecama) has recommended to government the need to reduce the number of State Residences and the review of ministerial perks. Ecama made the recommendations through its newly-elected president Henry Kachaje at a pre-budget consultation meeting in Lilongwe. Kachaje hailed President Peter Mutharika’s reforms in reducing the number of ministerial portfolios, […]
Minister of Finance and Economic development, Goodall Gondwe is still being observed by doctors , following an apparent case of bacterial food poisoning but he is in “stable” condition. Gondwe was sickened by bacterial food poisoningl, according to Secretary to the Treasury Newby Kumwembe. Kumwembe said in Lilongwe during the opening of the pre-budget consultation meeting […]
Malawi Government has disclosed that it is having trouble coming up with the 2015/2016 national budget following the suspension of aid by some of the country’s partners. The country’s Minister of Finance, Economic Planning and Development Goodall Gondwe has said following the hiccup and numerous other problems government will this year trim down the cost […]
Malawi Parliament on Friday approved a provisional budget allowing government to spend MK 210,178, 188, 689 billion up to October when the annual financial plan will be tabled. The provisional budget was tabled by Finance and Economic Development Minister Goodall Gondwe who told National Assembly that the preparation for this year’s national budget has delayed […]
Malawi’s economy is expected to grow faster this year than previously expected and the 2014/15 budget will be sent to parliament in September, delayed from June when the fiscal year ends, Finance Minister Goodall Gondwe said on Wednesday. “After a careful review of what has been prepared so far, we find that the 2014/2015 budget […]
President Peter Mutharika said his administration will give special importance to the design and implementation of sound macro-economic policies as a critical factor to support good governance. The President who was delivering his maiden State of the Nation Address to Parliament in Lilongwe, announced that a provisional three month budget will be passed during the […]