Malawi’s donors have pledged $100 million (about K40 billion) in budget support for the 2014/15 financial year, Finance Minister Dr Maxwell Mkwezalamba said on Friday. Mkwezalamba was quoted by Daily Times from Mexico on the sidelines of the High Level Global Partnership meeting, saying government has secured the commitments from donors for current and and […]
Malawi government has started working on 2014/15 national budget which doesn’t not include 40 percent it gets from donors, Finance minister, Maxwell Mkwezalamba, has confirmed. But Mkwezalamba told a local radio on Wednesday that this is not a zero deficit budget. “We can’t say it’s a zero deficit budget because we have left a room […]
The second 2013/14 Common Approach to Budget Support (CABS) biannual review will take place on March 11, and will ascertain if Malawi is ready to receive aid. The forthcoming review will, among other things, assess progress made in the implementation of the ‘Extraordinary Performance Assessment Framework’ (E-PAF), which was agreed between the Government of Malawi […]
Malawi’s Treasury has admitted that it over-borrowed domestically in the first quarter of the 2013/14 National Budget by K58.7 billion between July 1 and September 30 this year to beef up state confers. The revelation comes in the back-drop of the infamous cash-gate that has seen money in excess of 100 billion being looted from the same […]
Malawi’s Treasury has announced that the revised 2013/14 National Budget has gone up by K4.5 billion (about $11.2m) to K640.3 billion from the initially projected K635.8 billion. Secretary to the Treasury Newby Kumwembe told the Budget and Finance Committee of Parliament in Lilongwe Wednesday that the rise has come against a background of government trimming by K32 […]
Malawi government has imposed new cost cutting measures of public procurement of services and materials which will be done on cash basis after major donors announced a freeze in budgetary support following the cash-gate scandal at Capital Hill. Unveiling the measures at a news conference in the capital, Lilongwe on Wednesday, Malawi Minister of Finance […]
The Malawi Electoral Support Network (MESN) has asked government to revise its budget after revelations that donor partners have withheld their budgetary support to ensure continuity of operations. Donors under the Common Approach to Budgetary Support (Cabs) on Thursday said they are withholding their assistance estimated at $150 million (about K60 billion) to Malawi for […]
Norway has become the first donor countries to fulfill its promise towards providing financial support to the current budget and beyond. This follows the signing of a K13.5 Billion (about 250 Million Norwegian Kroner) budgetary support agreement that will be fulfilled between 2013 and 2016. Minister of Finance Ken Lipenga and Norwegian Ambassador Asbjourn Eidhammer […]
Funding for government ministries and departments in Malawi has been trimmed by half this month following a directive by the treasury. This should read “following a directive from the Office of the President Cabinet (OPC), via the Ministry of Finance”. The trimming follows government’s payment of about K 400 million for SADC membership in arrears […]
Government has cut down by 50 per cent funding to ministries and departments a development that is expected to hamper proper delivery of a number of services and projects. Nyasa Times has established that K400 million has been paid as membership fee for SADC while K1 billion of the diversified money has been directed towards next […]
A total of K215 billion has been set aside for social spending in the 2013/14 Budget, representing 47 percent of Recurrent Expenditure, and 15 percent of gross domestic production (GDP), Finance Minister Ken Lipenga disclosed Tuesday. Addressing journalists in Lilongwe, Lipenga said the high level of social spending showed government’s commitment to cushion the country’s […]
Parliament Monday passed the appropriations bill that will enable Government start spending money allocated to various ministries and departments as part of the 2013/14 national budget passed last Friday. The 2013/14 national budget was presented in the House on Friday May 24 by Finance Minister Dr. Ken Lipenga and after three weeks of debate and […]
Malawi Parliament on Friday unanimously approved the National Budget to enable the government fund its operations in the financial year of 2013/14. The lawmakers nodded to the financial plan after passing the remaining three votes as part of the K630.5 billion allocated to various ministries and departments on the financial year starting July 1, 2013. […]
German government has released 5.0 million Euros about 2.2 billion Kwacha towards Malawi’s budgetary support which aims to help the country to continue to systematically pursue its economic reform agenda. In a statement made available to Nyasa Times, the German Ambassador to Malawi, Dr. Peter Woeste says he hopes the financial assistance will help Malawi […]
Five Malawian NGOs under the banner Governance Platform (GP) have urged government to be cautious with the level of borrowing to avoid accumulating debt stock arguing that they find the reason for the shift from domestic borrowing to foreign borrowing as an insignificant effort to the call to live within our means. Total revenues and […]
Malawi Parliament on Monday passed five votes namely, State Residences, National Audit Office, the Judiciary, Office of the President and Cabinet, and Department of Human Resource Management and Development without amendments. Parliamentarians, however, sought clarifications from Finance Minister on some allocations within the State Residences vote which has a total funding of MK3, 675,142,640. Malawi […]
Malawi Parliament on Monday passed five votes namely, State Residences, National Audit Office, the Judiciary, Office of the President and Cabinet, and Department of Human Resource Management and Development without amendments. Parliamentarians, however, sought clarifications from Finance Minister on some allocations within the State Residences vote which has a total funding of MK3, 675,142,640. Malawi […]
Opposition Democratic Progressive Party (DPP) lawmaker for Nsanje South West, Vera Faramenga Chelewani, was forced to withdraw her “unparliamentarily remarks” after she labeled Finance Minister Ken Lipenga as a “comedian.” In her contribution to the 2013/14 budget proposal, Chelewani told parliament that she was not impressed with the way Lipenga unveiled the financial plan, saying “the ministerial […]