Parliament approves the revised 2018/2019 budget

Written by  Doreen Sonani

Parliament has approved the 2018/2019 revised National Budget which has been reduced by K25 Billion from the initial K1.454.8 Trillion to K1, 429.7 Trillion.

15
March

Out of a total 51 vote allocations to various government agencies under the national budget, 22 votes have revised upwards while 24 votes have been revised downwards and the remaining votes have maintained their allocated figures.

 

Speaking in an interview after the passing of the revised budget, Minister of Finance and Economic Planning Goodal Gondwe described the adoption of the budget as a good development as it will allow government continue implementing development projects across the country in ending poverty among Malawians.


“We have finished the whole process, worked very hard on the figures, me and the whole Treasury team and now we are confident that we have
laid a very strong foundation in the sense that the economy is ready to take off,” says Gondwe.


Commenting on some of the major projects being implemented as part of strengthening the implementation of the fiscal policies, the minister said government has identified another company called Century renowned in the SADC region to upgrade the IFMIS and what remains is to improve the capacity of government officials including cabinet ministers on what IFMIS is all about and how it operates.


“We cannot afford another cash-gate because apart from the fact that it has been embarrassing, it had a negative impact on our economy and Malawians have to vow never again to such a scenario, this remaining six months of the 2018/2019 budget implementation therefore should be a success,” adds Gondwe.


The Finance Minister also observed that there has never been a year where many development projects have been completed in 12 months since the country got independence and that this period from an economic point of view has been an extremely successful year for the country when a lot of major development projects have been implemented.


The Minister attributed this to the exceptional leadership of His Excellency the President Professor Arthur Peter Mutharika who said is a patient leader, able to reason with others the thing that has helped to transform the country’s economy to the greater success state.


The House is expected to adjourn sine die this Friday as it will be dissolved on 20th March ahead of the May 21 tripartite elections.

Get Your Newsletter