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The Ministry of Finance and Economic Affairs will start a series of nationwide pre-budget consultation meetings this morning to gather diverse views from key stakeholders on the 2025/2026 National Budget.
The Minister of Finance and Economic Affairs, Simplex Chithyola Banda, is expected to lead the discussions at the Bingu International Convention Centre (BICC) in Lilongwe.
The meeting is crucial as it aims to solicit viable ideas, which, when refined, will be incorporated into the National Budget.
On 4 December 2024, during the Mid-Year Budget Review, Chithyola Banda highlighted some key fiscal initiatives and reforms. These include restructuring and reducing fiscal deficits, removing VAT waivers on motor vehicle imports for privileged individuals, enforcing the use of electronic excise tax stamps, encouraging voluntary tax compliance for motorcycle operators, and expanding electronic payment systems.
He also urged Parliament to deliberate on and adopt the revised budget estimates and fiscal reforms to ensure economic recovery and resilience during the remaining part of the fiscal year.
According to the Ministry of Finance, the consultation meetings will also be held in other cities this week, starting with Mzuzu on 14 January and Blantyre on 17 January.
