In a bid to promote economic growth and stability, the Malawi government has announced plans to strengthen domestic resource mobilization and reduce reliance on borrowing.
Finance Minister Simplex Chithyola Banda made the remarks during 2024/25 budget presentation at pariament in Lilongwe on Wednesday.
He said the government is implementing a revised 2024/2025 budget aimed at promoting economic resilience.
“The government has introduced austerity measures aimed at restoring economic stability. One of these measures is the requirement for senior government officials to pay VAT on imported vehicles.
“This move is expected to promote transparency and accountability in public finance management,” he said.
He added that by implementing these measures, government aims to promote economic resilience and stability, while also ensuring transparency and accountability in public finance management.
