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PRE BUDGET CONSULTATIVE MEETING UNDERWAY IN LILONGWE

A Pre-Budget Consultative Meeting is underway at the Bingu International Convention Centre in Lilongwe.

In his welcoming remarks, Secretary to the Treasury,  MacDonald Mafuta Mwale,  said the meeting is crucial as it solicits viable ideas that when reconstructed are factored into the National Budget.

“This is not a routine exercise. Your inputs will be consolidated and considered in the formulation of the National Budget. I should cite a proposal that came from previous consultative meetings that we resuscitate Malawi Development Corporation looking at its enormous contribution to the development of the country. We heard that. Government has recapitalised MDC and soon it will commence its operations,” said Mwale.

In his remarks, the Minister of Finance and Economic Affairs, Simplex Chithyola Banda,  said it is possible to surmount the challenges the country is facing.

” We are confident as a government that we can turn around the economy. First, we need to take bold decisions to protect the economy, then move on the recovery path and in the 2024/25 fiscal year we project a 3.2 percent growth rate of the economy. For this to be realised, there’s a need for deeper collaboration in the spirit of one Malawi and one nation,” said Chithyola-Banda.

In its contribution, the Economics Association of Malawi (ECAMA) highlighted key aspects the ministry should consider when formulating the budget. ECAMA emphasised promoting trade not leaning on aid so that the country increases its export base and accumulates sufficient foreign exchange.

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