The 2019/2020 Budget Session of parliament is scheduled to take place in September 2019 and not the usual June-July owing to the need to put in place new structures for the newly elected Members of Parliament (MPs). Senior Assistant Clerk of Parliament, Joseph Manzi disclosed this Wednesday in Lilongwe during the on-going orientation of newly […]
Treasury officials say the government will operate on provisional budget as its financial calendar has been disturbed by the just ended May 21 tripartite elections. Spokesperson for ministry of finance Davies Saddo says in addition to the elections, there is need to orient the new members of parliament on the national budget and as public […]
Malawi government needs to brace for tougher times ahead as the European Union (EU) has indicated that its budgetary support may not be sustainable in future owing to Malawi’s rapid population growth. The EU Ambassador to Malawi, Sandra Paesen, has observed that Malawi’s population will grow at unprecedented and unsustainable levels within the next 20 […]
Malawi Congress Party (MCP) has said the World Bank rescinded its pledge to disburse K60 billion in budgetary support to the Malawi Government because it “noted some governance gaps which are substantive in nature.” The withholding of World Bank budgetary support has forced Treasury to trim its planned expenditure this financial year. Responding to 2018/19 Mid-Year Budget […]
Minister of Finance and Economic Planning Goodall Gondwe has told Parliament that government has spent less than what was projected in the 2018/19 National Budget. Delivering a Mid-Year Budget Review Statement in Parliament on Friday, Gondwe said of the K1.3 trillion projected budget for the first part of the 2018/19 financial year, K691.8 billion has been […]
Malawians should expect cuts in the K1.3 trillion 2019/19 financial plan because of the delay by World Bank to disburse the budgetary support projected at K60 billion, the Finance, Economic Planning and Development Minister Goodall Gondwe has said. He said the delaying releasing budget support commitments by donors will lead to adjustment to the National Budget and […]
Opposition political parties in the country are calling on the government to be transparent on how much it has used for the past six months as legislators meet for mid-year budget review from March 5. The call by main opposition, the Malawi Congress Party (MCP) spokesperson Maurice Munthali come at a time when there are […]
Malawi Parliament is expected to meet from Monday for the Mid-Year Budget Review amid reports that most government ministries and departments have overshot their budgets in the last six months. Parliament spokesperson Leonard Mengezi has confirmed that President Peter Mutharika has authorised the meeting of the National Assembly, the last for this cohort of legislators […]
Malawi Congress Party (MCP) president Lazarus Chakwera has said when elected to power next year, his government will change the financial year to the months of April and March. Since 2010, the country has been running on national budgets running from July 1 to June 30—a cycle some argue that negatively affects annual procurement of agricultural […]
Minister of Finance, Economic Planning and Development Goodall Gondwe has expressed the hope that the meeting with International Monetary Fund (IMF) will be fruitful and that would lead to World Bank and Europeam Union (EU) to disburse the budgetary support projected at K50 billion , saying failure to release the money will trigger cuts in […]
Malawi government has said World Bank has not released the K60 billion budget support from the World Bank, which was expected in August, has not be released, as the donors had raised some issues including the decision to proceed with the Salima-Lilongwe water project – whose contract was given to Khato Civils Limited that unveiled the […]
Malawi parliament approved on Friday the government’s 2018 budget pegged at K1.454 trillion paving the way for government ministries, departments and institutions to begin implementing their activities for this financial year. Members of Parliament (MPs) approved the 2018/19 fiscal plan after forcing the government to increase their salaries and allowances and increase development funding. With the usual […]
Peoples Party (PP) Chief Whip John Chikalimba has urged parliamentarians to put politics aside as they scrutinize and pass the various allocations in the 2018-2019 National Budget. He made the remarks in Parliament as he was responding to the National Budget presented before the lawmakers on May 18, 2018 by Finance Minister. “Mr. Speaker Sir, […]
Legislators on Monday returned to the chamber after a two week cluster meetings with opposition Malawi Congress Party (MCP) spokesperson on finance shredding the K1.5 trillion national budget describing it as the campaign tool clearly aimed at boosting chances for President Peter Mutharika’s ruling Democratic Progressive Party (DPP) re-election. MCP spokesperson on finance Kusamba Dzonzi […]
The opposition Malawi Congress Party (MCP) has criticised government for the newly-created youth internship and tree planting initiatives announced in the proposed K1.504 trillion 2018/19 National Budget. Minister of Finance, Economic Planning and Development Goodall Gondwe announced a K4.8 billion allocation to the Youth Internship Programme designed to recruit 5 000 youths aged between 18 and 30, […]
Oxfam has said this year’s budget should address issues of inequality and increase prosperity among all people if the country is to move forward. The global charity’s Interim Country Director, Lingalireni Mihowa made the observation Thursday during a Budget Analyst dinner with members of Budget Parliamentary Committee of Parliament at Sunbird Lilongwe Hotel in Lilongwe. […]
Malawi government has been advised to tame the borrowing appetite by cutting wasteful spending and focusing key areas following revealations that the country’s debt is set to rise by 473.6 percent as government plans to borrow about K176.1 billion in the next fiscal year starting on July 1 compared to K30.7 billion in the revised […]
Since Finance Minister Goodall Gondwe presented the 2018/19 financial blue print, newspapers and several other media platforms have described it as a campaign budget. Nothing could contradict this. What was, however, conspicuously missing in the fiscal plan is how government intends to raise the K1.5 trillion. And that in my view, is where the biggest […]