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DPP’s K2.2 trillion budget scrapped off, Malawi’s new pulse keeper to present provisional budget

Former Finance Minister Joseph Mwanmveka

BLANTYRE-(MaraviPost)—In a bid to incorporate their campaign promises in the national budget,  the newly elected Malawi Congress Party (MCP) government has scrapped off the budget that was presented by the former ruling Democratic Progressive Party (DPP) in parliament two weeks ago.

According to Times, the newly appointed Minister of Finance, Felix Mlusu, is expected to present to Parliament a provisional budget.

President Lazarus Chakwera yesterday appointed Mlusu and three other cabinet ministers following last Tuesday’s fresh presidential election.

This comes as the government’s financial year closes today and in a normal circumstance, a new budget is expected to be implemented from July 1.

Parliament is expected to make a determination today on when the Finance Minister could present the interim budget.

In an interview with Times yesterday, monitored by MaraviPost Treasury spokesperson, Williams Banda, said a provisional budget had already been prepared.

He said the final amount of the budget will be known once the minister has completed scrutinising the interim budget.

 “Treasury will prepare a provisional budget in line with the Macroeconomic fundamentals and aspirations of the government and the minister will present it to Parliament at an appropriate time,” Banda said as quoted in Times.

Soon after former finance minister Joseph Mwanamveka presented the K2.2 trillion budgets, Economic analyst Dr Betchani Tchereni had expressed reservations describing it as consumer based, other than one that would spur economic growth

Dr Tchereni, a lecturer at the Polytechnic, said there was also a number of misallocations in the budget.

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