Wednesday, March 29Malawi's top news source

Gwengwe Budget Economic Recovery But Poor Left Behind

Minister of Finance Hon Sosten Alfred Gwengwe has hinted that the financial plan has been aligned with the State of the Nation Address delivered by President Lazarus Chakwera recently.

Minister of Finance Sosten Gwengwe says government has completed construction of trauma centres in Dedza, Ntcheu and Balaka districts to assist people involved in road accidents on the M1 road.

He said this in his budget statement he is presenting at Parliament, adding the centres which will roll out soon have ambulances to ferry victims.

Finance Minister Sosten Gwengwe says the 2022/23 financial year used a total of K3.04 trillion against a planned K2.85 trillion

Gwengwe says the overspending resulted in a budget deficit of around K1.01trillion.

Finance Minister Gwengwe says construction of the M1 road in Lilongwe, which is being upgraded to duo-carriage, is now at 30% completion rate with majority of bridges on the road almost completed.

The road is being rehabilitated from Crossroads roundabout to Kanengo.

Finance Minister Sosten Gwengwe says Malawi’s debt stock was hovering at around 7.9 trillion kwacha as of December 2022.

He says Tonse led administration is currently working on a credible process to restructure the debt.

He says the budget has managed to provide prudent allocation to different sectors to meet the country’s economic targets.

Government has reaffirmed its commitment in enhancing the use of Integrated Financial Management Information System (IFMIS) ·

Finance Minister Sosten Gwengwe says they will consolidate gains of the system to ensure transperancy in all government payment processes.

He adds they will institute measures that will see the system effective to all government ministries and departments.

Related News

In order to respond to the immediate needs in areas that experienced heavy rainfall and strong winds that resulted in Read more

World Consumers Rights Day: CAMA for tangible digital financial platform

. The country is to join the rest of the world in celebrating World Consumer Rights day which falls on Read more

Truck drivers’ strike resumes March 21

```RESOLUTE—Ayuba James (centre) and PDU members Professional Drivers Union (PDU) has announced the resumption of a nationwide strike from March Read more

Chakwera delegate Muluzi to represent Malawi at the burial of Rupiah Banda

Former President Bakili Muluzi has described as an honor a decision by President Lazarus Chakwera to delegate him to represent Read more

Matola To Name And Shame DPP Gurus Siphoned Fuel At Escom

Minister of Energy Ibrahim Matola insists he will name and shame DPP gurus who were siphoning fuel at ESCOM. According Read more

Govt Is Slow On Israel Embassy

Despite stating its intention to open a diplomatic mission in Israel, government has not appointed diplomats for the mission. The Read more

Cooking Oil Companies To Reduce Prices

Players in the cooking oil industry have expressed commitment to reduce prices of the commodity effective 1st April this year. Read more

Malawi Legislators Slums Judiciary For Interference.

Members of Parliament (MPs) have raised concerned over judicial interference on the house’s decisions and deliberations. Government Chief whip of Read more

Abida Mia says flood victims need more support

Written by MFN Reporter Continued support for flood victims will greatly assist those affected during their time of need towards Read more


The Minister of Water and Sanitation, Abida Sidik Mia, held a meeting with the SRWB on the 18th of March, Read more

News To Read

Leave a Reply

Your email address will not be published. Required fields are marked *