Members of Parliament (MPs) on Wednesday passed a K2.1 trillion 2020/21 national budget statement as presented by Minister of Finance Felix Mlusu on September 4, 2020 . Development expenditure is projected at K511.2 billion, consisting of K100.9 billion for domestically financed projects and K410.3 billion for foreign financed projects. The budget has a fiscal deficit of […]
Finance minister Felix Mlusu has said Members of parliament during a budget cluster meeting recommended that K500 million which was earmarked for Constituency demarcation exercise has been removed from the Malawi Electoral Commission (MEC) budget allocation and instead given to Independent Complaints Commission to investigate complaints by the public against Malawi Police Service and the Malawi Human Rights Commission […]
The introduction of a 20 percent withholding tax on winnings from betting and gambling transactions including lotteries, will make the gaming industry exit due to the “punitive” tax–leading to loss of 1000 direct and indirect jobs. ActionAid Malawi has said this in its budget tax revenue policy analysis which was presented to members of the […]
Parliament’s Public Appointments and Commissions, Statutory Corporation and State Enterprises budget cluster committee has recommended an additional K2.4 billion budget allocation to the State Residences. Presenting the committee’s report in Parliament, chairperson Joyce Chitsulo said the committee noted that the K5.5 billion allocation to State Residences may be inadequate, considering that last year; State Residences […]
Democratic Progressive Party (DPP) spokesperson on Finance, Joseph Mwanamvekha has implored government to put in place measures that will ensure that the country’s debts are reduced. He said this in Parliament on Monday when political parties were giving in their inputs in the 2020/2021 fiscal year budget. Mwanamvekha said if the debt doesn’t come down […]
Speaker of Parliament Catherine Gotani Hara has pended the Budget and Finance Committee of Parliament scrutiny to the 2020/21 national budget as presented by the Minister of Finance Felix Mlusu after some members of her committee claimed her response was not part of the original report they had unanimously agreed. Ganda, a Democratic Progressive Party […]
Opposition Democratic Progressive Party (DPP) spokesperson on finance Joseph Mwanamvekha on Monday punched holes in the K2.2 trillion maiden substantive budget for the Tonse Alliance administration, christened the 2020/21 budget as a consumptive financial plan as opposed to development-oriented as 92 percent of domestic revenues are financing recurrent expenditures. =Political parties represented in Parliament have […]
Malawi Health Equity Networkand the Action Aid Malawi have bemoaned low allocation to the health sector, saying it was affecting the completion of the construction of health facilities whose projects have been running for a number of years. The organizations made the observation in their presentation during a Public Hearing on Social Sector allocations in […]
Stakeholders from various social sectors in Malawi Friday morning had an opportunity to interface with Members of Parliament and present their views on the 2020/2021 National Budget during a public hearing organized by Parliament of Malawi. The public hearing, conducted at the Bingu International Convention Centre (BICC), was organized to provide a platform to the […]
Oxfam has applauded the new Tonse Alliance led government for accepting to continue in implementing the development projects that were being implemented by the previous government. Oxfam Malawi, Country Director, Lingalireni Mihowa , who was an aide of former President Joyce Banda , said this Thursday during Budget Analysis Report Dissemination meeting with Parliamentary committees […]
The Malawi Revenue Authority (MRA) has assured Members of Parliament (MPs) that the tax collecting body was optimistic in meeting the revenue target of K1. 116 trillion set by Treasury as announced by the Minister of Finance in the K2.2 trillion 2020/21 National Budget statement. Speaking when MRA senior management team appeared before the joint […]
The Consumers Association of Malawi (CAMA) has described the Tonse Alliance’s first national budget as empty and a total departure from the litany of promises the Tonse Alliance made prior to the Fresh Presidential Election (FPE) on June 23, 2020. CAMA executive director, John Kapito, in a statement issued on Saturday, said the 2020/21 National Budget […]
Finance Minister Felix Mlusu on Friday presented a K2.2 trillion National Budget which, despite government’s shrinking resource envelope, is visibly bold and ambitious in ensuring that every Tonse Alliance campaign promise is delivered. Mlusu, arguably a novice in political governance, definitely drunk immensely from Vice-President Saulos Chilima’s political and economic experience—not just as Economic Planning […]
Main opposition Democratic Progressive Party (DPP) has dubbed the Tonse Alliance first national budget as a wasted opportunity with former Treasury czar Jospeh Mwanamvekha saying the economic fundamentals delivered by Finance Minister Felix Mlusu do not give confidence. Mwanamvekha, who is DPP spokesperson of finance in Parliament, said he will give a comprehensive response to […]
Finance Minister Felix Mlusu’s K2.2 trillion 2020/2021 National Budget which he has presented in Parliament on Friday has seen the Education Sector getting the lion’s share with a whooping K384.5 billion allocation which is 21.6 percent of the total budget, representing 5.4 percent of Gross Domestic Product (GDP). Mlusu said these resources will cater for […]
Finance Minister Felix Mlusu has announced an increase of tax free band from K45,000 to K100,000, a tax measure which was announced in the K722 billion provisional budget but was not implemented. Mlusu said when he presented the 2020/21 national budget in Parliament on Friday. He said government realizes the need to increase disposable income […]
Minister of Finance Felix Mlusu on Friday unveiled a K2.190 trillion national budget in Parliament geared more to fulfilling campaign promises of Tonse Alliance made ahead of the June 23 Fresh Presidential Election as well as in President Lazarus Chakwera’s first State of the Nation Address (Sona) delivered in Parliament last Friday. The national budget, […]
Claps of contentment flew from both sides of Parliament on Friday when Finance Minister Felix Mlusu revealed that Constituency Development Fund (CDF) has been increased from K30 to K40 million. CDF is the money government gives to MPs to facilitate small development projects in their constituency. Making the announcement, Mlusu said the increased in the […]